Preface to all ETF Posts: I am composing this on Thursday afternoon, so the charts will be up-to-date as of then. I wanted to make some general comments about specific ETF groupings, principally to give me a little time to not have to worry about creating new content in the near-term.
I’ve confessed that I treat gold like an ex-girlfriend after an ugly breakup. My view is poisoned. All the same, I stand by my chart. I think we’ve started to reverse, and I’ve got a bunch of puts on SPDR® Gold Shares (NYSE:GLD).
It’s the same deal with silver (via iShares Silver Trust (NYSE:SLV)): there’s a mountain range of overhead supply which is going to hold back any ascent.
Miners (via VanEck Vectors Gold Miners ETF (NYSE:GDX)) have been a total mess, and they have failed their principal uptrend. Any strength will be temporary.
It’s even more grim with the junior miners (via VanEck Vectors Junior Gold Miners ETF (NYSE:GDXJ)). Nothing but a drop zone.
