Focused on the Miners

After what looked like a stirring reversal this morning, things are once again turning sour. The bears turned the SPDR S&P 500 (SPY) away at the 13-day moving average. Now we find ourselves in a bit of no man's land. A few breakouts that looked worth chasing have turned on me quicker than the yen on a Japanese exporter. It is tough out there at the moment.

I am still been focused on the miners, although the action has been poor the last few days. There is a pattern setting up to repeat that could offer an opportunity. I have noted bullish divergences in the gold and silver miners several times over the past few months, but, quite frankly, it hasn't helped one bit, so I didn't even include them on the  chart below....393 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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