S&P 500 faced sellers right at the open, and the telltale was Nasdaq underperformance – making for quick intraday short gains on the first dump already. Monday‘s ES levels and tired bumping of NDX into upside resistance established that day, didn‘t allow for any addition to swing longs – while the bull upleg is firmly established for 7 days already, a test of the below indicated supports isn‘t out of the question, especially when I had been voicing distrust of semiconductors and Nasdaq early yesterday (TradingView heatmaps included).

Continuing with chart-packed daily analysis, consider for all the stellar crypto gains called for you weeks before markets made up their mind on the elections, and note as well the called steeply rising USD amid the calm in options market.

Thank you for the great reception of extensive Sunday‘s analysis charting the stock market path months ahead. Look at Bitcoin to set the risk-taking tone, and beware of upcoming inflation data too before rushing in long.

Let‘s move right into the charts (all courtesy of www.stockcharts.com).
 

Gold, Silver, and Miners

The following statement proved correct yesterday – there are many great long-term reasons to be a precious metals bull, but I say the short-term path (lower) will offer more favorable entry points than the levels where prices are now – for gold, silver and miners alike. That would be more ounces or shares accumulated by those of you patient enough to let the selling run its course (not there yet, no).

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