GLD Holding Steady

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Good news . . GLD held up very nicely today, as opposed to GDX . .  that dropped 2.2 %.  The miners have been weak relative to bullion lately and NEM is an even more dramatic case of gold miners’ weakness. Just for reference here’s the Lazy Man template with GLD as the focus (shaded) chart with SPY, GDX, NEM, SLV and PAL in contrast.  Palladium’s been the big mover both in terms of momentum and volatility while SLV has been the more incremental earner.  Bad news  . . everything is headed down on the daily charts so a red tide alert is still in effect.  For a while today it looked like selling capitulation but the the closing downdraft took hold with a vengeance.

Related posts:

1. GLD at the Threshold
2. TLT New Lazy Man Pick
3. 09.15.08 – VWAP Holding under Tick Pressure
4. 03.09.10 – Steady Rise to 1,150?
5. VIXometer Update