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Will Stocks Lead the Way Lower for Miners?
The precious metals market did almost nothing yesterday, and consequently we have relatively little to comment on today. There are two subtly bearish signs that we would like to feature, nonetheless. The first subtly bearish sign is the change in the way the USD Index "topped" this month. In early April, and then in late April, the USDX reversed close to the 101 level and then moved lower in a decisive way, until declining below 99. This time has already proved to be different. In early May, the USDX reversed and declined a bit, but instead of continuing its decline in the following days as it used to do in April, the ... (full story)