Dave Erfle, Founder of the Junior Miner Junky, joins us to review the short-covering rally that kicked off in markets on the back of the messaging from the FOMC meeting press conference, where Jerome Powell indicated that the Fed may dial back the extreme hawkish tone, all this in lieu of a weakening economic picture with the Q2 GDP coming in negative for the second quarter in a row. The mining stocks have accelerated their move up that began 2 weeks ago, but Dave gives us the data he’ll be looking for as things progress to see if we get a confirmation that meaningful low has been put in. We also review the technical support levels he is watching in gold, GDX, and GDXJ.
Click here to learn more about the Junior Miner Junky newsletter.