That very critical support level has held. Prices rose, both the metals and the miners. What was volume like? Was this a conviction day, where believers streamed back in and bought with both hands, pushing volume higher? Gains were relatively modest, and so I expect nothing special by way of volume.
These rose on average volume: HL.
While these rose on light volume: PAAS, GLD, RGLD, ABX, SGDM, GDX, PVG, SSRI, SILJ, SGDJ, CDE, AG, FSM and SLW.
OH, silver, in the form of SLV, declined modestly.
So, wow, was I ever wrong! Volume was quite modest, even 29% below the 50-day average. This was no big reversal day, for sure!
This is still a market holding forth a hope, and it is trying to maintain the last line in the sand of support. We watch and wait for some kind of genuine upside reversal move on volume, kicking off a new rally. I’m still of an opinion there is going to be one.
Here’s to your accumulation of real wealth!
Harold F Crowell