But, What About ‘Inflation’ ?

With today’s earnings release, Newmont’s chance at an upside breakout has failed.

Include an earnings miss, dividend cut, and we have probabilities weighted for continued downside (not advice, not a recommendation).

Reading the press releases, one gets the impression, Newmont’s battening down the hatches, preparing for a collapse.

If gold is supposed to launch higher, why all the divestiture, raising cash, paying down debt?

Miners Bear Market

The last update on the miners, link here, had the Juniors testing their trading channel.

Since then, price action drifted higher for one additional day, then reversed to the downside.

That’s where we are now.

To be fair, GDXJ price action has just filled a gap (as of 11:45 a.m., EST). From here, there could be some kind of upside attempt.

However, probabilities are low (not advice, not a recommendation).

Markets Go Berserk

While all eyes are on Nvidia’s (NVDA) last gasp of a delusional mania, the mining sector continues lower.

It’s quietly telling us there’s something wrong with the ‘inflation’ narrative (not advice, not a recommendation).

Stay Tuned

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Note:  Posts on this site are for education purposes only.  They provide one firm’s insight on the markets.  Not investment advice.  See additional disclaimer here.

The Danger Point®, trade mark: No. 6,505,279