Volume Retreats

The chart of Senior Miners, GDX, at left, shows successive declines in print high, close high, and volume on net up days.

This is a subtle indication, the bulls may be backing off to see what happens next.

After all, it’s been non-stop cheerleading by the press:

Ditch the SPX – Precious Metals Are the Real Deal, link here.

Silver Is Finally Soaring: Here’s Why, link here.

Metallic Mayhem: Platinum Pops, Silver Squeezes, Gold Brews, link here.

On the other side, inflation seems to be slowing, absent, or even (gasp) declining.

What’s going to happen if/when there’s a ‘deflation’ scare?

Fearmongering Pundits Disappointed AGAIN As Consumer Prices Refuse To Surge On Trump Tariffs, link here.

Positioning

Currently short GDX, with a tight stop near yesterday’s high @ 52.61 (not advice, not a recommendation).

Stay Tuned

Charts by StockCharts

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