18Jun10:23 amEST

Following-Through to Safety

The precious metals and their miners have been mired in a bear market for a good while now, albeit with bounces offering fast, actionable pops at times. But those bounces have been repeatedly sold, usually leading to a sharp rollover before the pattern repeats itself. 

In order for the complex to see a meaningful change in character, I suspect names like premier silver miner, SLW, will need to follow-through and hold rallies at least over $19. On the daily chart, below, note the potential double-bottom (light blue line), a pattern which has repeatedly failed for miners in recent years. 

Elsewhere, biotechnology stocks are leading the charge today, with several of them waking up. We are looking at a few under-the-radar ones setting up inside Market Chess Subscription Services this morning. 

Stock Market Recap 06/17/15 ... The Biotech Three Party

 
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