Interim tops remain possible in metals and miners. Gold and silver are yet to form swing highs, so we remain in the proving phrase. Miners need to close progressively beneath their 200-day MA’s to support a top and interim pullback.
-GDXJ- Juniors are trading lower, but they need to close progressively below the 200-day MA before a pullback is confirmed. Prices are attempting to bounce off the 10-day EMA today. Let’s see how they close.
-US DOLLAR- The dollar is declining into a cycle low. Prices are between the 50% and 61.8% retracement levels. The RSI (9) is diverging positively, and we could be approaching a low. Often, the low will arrive around the time the 20 and 50-day moving averages kiss, similar to September.
-JDST- I got in at $45.59 yesterday. Above is the minimum 1-3 week target…if prices bottomed. I’m keeping my stop tight – just below the $43.71 low.