Let's See if There's Legs Into March Madness
The metals and miners, precious and otherwise, are some of the big winners off the Fed rate hike today.
Equities, as a whole, are performing rather well, too, despite a mild "sell the news" reaction from the banks.
As we noted last Friday, gold miners were at a critical juncture technically, transcending the short-term machinations of The Fed and interest rates. Thus, the bounce by GDX and GDXJ carries even more weight from my vantage point, beyond being a good reaction to the raise.
But now comes the real test into the spring months: If the metals and miners can build on today's bounce.
More in my recap after the bell.