Maybe, and I say, maybe, precious metals and their stock miners ETFs have set up for a primary bear market signal
Sorry, but, as usual, time in very short supply. If I can, I’ll try to pen an in-depth post in the coming days.
For now, please be advised that on Thursday 24th, 2019 the S&P 500 broke up above its secondary reaction closing highs. The Transports confirmed on Friday 25th, 2019, and hence a primary bull market was signaled (under Schannep’s Dow Theory we need the S&P 500 and either the Industrials or the Transports confirming so that we get a signal).
The most recent assessment of the market situation was made here
All in all, the primary and the secondary trend is now bullish. Now both Schannep's Dow Theory and the "Rhea/classical" are in sync (as far as the primary trend is concerned, as the "classical" is still under a secondary reaction against the primary bull market). Both are bullish. The "indecision" I was referring to in my last post has vanished.
Here you have an updated chart
As to precious metals, recent rallies might have completed the setup for a primary bear market signal. I have to perform my volatility-adjusted studies to be sure of it. Hence, I cannot say for sure now.The last assesment of the situation was made here
The Dow Theorist