MORNING NOTE 8:50 AM

 

We are getting some downside follow-through after yesterdays Fed announcement. Gold (December) is below the $1213 low set last week. Silver is back below the $14.25 level. I imagine we will see miners gap lower at the open.

If this is the collapse described in the GDX bull trap update, then we should see significant follow-through selling throughout the day.

I’ll update again after the open.