From this vantage point, it looks as though the precious metals complex will trade opposite the stock market throughout the month of June. The miners look as though they are bottoming, while the stock market looks as though it is topping.
From this vantage point, it looks as though the precious metals complex will trade opposite the stock market throughout the month of June. The miners look as though they are bottoming, while the stock market looks as though it is topping. The jobs report on June 3rd will likely play with investors minds until June 15th, when all should reverse.
Below are charts of SPX and GDX and my expectations going forward for the month:
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