I keep thinking PMs will have to have a strong seasonal rally, but I can't think of a catalyst just yet. Today's oversold bounce will probably continue into Monday (at least the early part), but then this sector will be up against the resistance of yesterday's breakdown point - and with the quarter ending next Friday, what mutual fund wants to show gold stocks in their portfolio?

I'm guessing the sector slides further until mid or late July. At that point seasonality should kick in and I'll be looking for the first technical sign of life. Logically (not that PMs act logically), the massive oversold condition should set up a very good seasonal trade. US markets are in danger of rolling over - perhaps money moves to the PMs - haven't seen this in a long time, but that's how markets used to behave (guess I'm showing my age, lol).