Tuesday, June 6, 8:09 am EST. Looking at the metals trading overseas, they’re up! Gold’s at $1,291.30, and silver is trading at $17.64, as I type.
The prospects of a breakout are looming. Hope may be rising among traders. We’ll watch for it, and give a shout out, if it breaches long-term resistance, and begins to shoot higher. It will be signal to jump aboard!
I’ll check all the charts, and see if they’re anticipating and setting up for any such breakout move as that among themselves. If so, I’ll be back shortly.
8:20 am. Wow! The metals have been running way ahead of the miners… and the volume has fallen down dead! Monday’s volume was 51% below the 50-day average of volume for all the issues I track. Nobody seems to believe… which may be all the more reason to watch very carefully… or, it may mean the obvious; no one cares, or perhaps even sees what is going on. In any case, now would not appear to be the time to speculate. We want some confirmation of the move, with mighty volume coming into play, before we pile in.
It’s been 73 years since D-Day. Thank you, greatest generation!