SIL-SLV & GDX-GLD Do Not Inspire

Silver miners (SIL) vs. the metal they dig out of the ground (SLV) are not doing well at all.

sil-slv ratio

Gold miners (GDX) vs. the metal they dig out of the ground (GLD) have a slightly better look, but still do not inspire.

gdx-gld ratio

What both of these things need is what the entire precious metals complex needs in its nominal charts; a rise above a certain parameter that would imply a new uptrend. You can probably guess what that is by visualizing what a series of higher highs and higher lows would look like.

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