SPX is following closely behind the leader with sentiment eroding.
Short positions remain elevated in precious metals. We expect one more spike down in metals.
Money flows out of the gold sector continue indicating more weakness ahead.
One can make a case for an lCL low and reversal November 30th. At a minimum, the low $1770 should be retested if not broken.
Miners remain in a sustained downtrend.
Silver has been more robust than other metal sectors, but is still in a weekly downtrend.
As 2020 winds down, we should see tw0-sided action in metals, energy, and stocks into year end with a downward bias.
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