Drizzt: long term market analysis is a series once or twice a month where we take a look at longer term trends in the market to get our bearings right on the general direction of prices.
I refuse to add on actively to this market. If I add it is more to take advantage of yield on low volatility stocks. Unless prices move and stays above 3175, this looks like a consolidation which will bring the 17 week and 43 week EMA together. Judging by past actions on this moving average, the likely trend is down rather than up.
With so much turbulence in Europe and Pakistan it is no coincidence that gold stocks and gold is performing so well. 13 week EMA is rebounding nicely off 43 week EMA.
I should be adding on to any pullback.
The question is GDX or SLV which is the ETF listed on the US stock exchange for silver.