Market Signal

GLD settled at 408.89 on August 28, below the 410 full-breakdown level the standing gold-anomaly thesis names and 1.4 percent under its 200-day average — the second flip across that line in two weeks. Miners did not confirm: GDX holds 11.6 percent above its own 200-day on a positive year, the opposite of the miners-lead-lower pattern the original breakdown case described.