1:02 pm PST. GDX closed strong, holding the morning’s gap open. I think GDX will go to the 200 sma which is just above us.

HYG, the corporate bond etf, which has a very similar pattern to SPX, made another marginal new high today on increasing negative divergence. I have posted two charts of HYG with an SPX overlap in black.

The UUP had a smaller 110,000 share block trade at 25.80 and we closed below. We also closed below the 4 EMA again, which means the trend is still down for now in the dollar.