Precious Metals

Both GLD and SLV have dropped sooner than I hoped, now it's a matter of waiting for the basing process which can take as little as half a day in this case or can be several days (if it does indeed base which I think it will) and wait for the positive divergences to migrate through several timeframes, which can also happen pretty quickly.

This is what both look like now, GLD had a negative divergence yesterday, but I'd be loathe to short GLD with that strength on 1 negative divergence, that's not high probability.

Both are down on a stronger $USD, but that looks as if it will fade a bit shortly.

$USDX gains overnight with a negative divergence forming.

 SLV-we need positive divergences and a base-same with GLD below.