Silver should be favored over Gold; Mining stocks gaining ground

Equity trend bullish but I suspect until both DXY and TNX break trendline support that the rally could prove a bit choppier into the end of May before a stronger push higher.   SPX and QQQ’s push back to new highs finally led the DJIA to exceed 40k for the first time ever to cap off a bullish (+~1.5%) week for stocks.  Yet, S&P 500 Equal-weighted index along with DJ Transportation Avg along with many Small and mid-Cap Averages remain below all-time highs, and this larger broad-based rally will take time.   Overall, short-term trends remain bullish, and momentum and breadth are supportive of further gains into June.   

US Equity markets have shown a bit of stalling out, but yet no meaningful evidence of any trend deterioration has occurred. 

Some minor sector rotation that has led many commodity-based stocks higher looked to be the new trend worth discussing following a sharp rebound in Energy and Materials to end the week.

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