Daily Market Summary by Lance J. Lewis

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April 30, 2025

Nothing Happened

I had a meeting run late after the close so there will be no evening letter tonight other than my brief comments on gold below...

Both gold and GDX once again closed below the 5 dma, so the bears remain in charge even though we did see what looked like a month-end jam off of the $3260 line in the sand again today.

The first day of the month often sees inflows, but unless those inflows slingshot the metal above last week's highs and break the recent negative correlation with the DXY, downside looms, especially if the DXY climbs above 100.

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Disclaimer: Lance Lewis periodically publishes columns expressing his personal views regarding particular securities, securities market conditions, and personal and institutional investing in general, as well as related subjects.

Mr. Lewis is the president of Lewis Capital, which is a registered investment advisory firm in Dallas, Texas. The firm regularly buys, sells, or holds securities that are the subject of Mr. Lewis’ columns, or options with respect to those securities, and regularly holds positions in such securities or options as of the date those columns are published. The views and opinions expressed in Mr. Lewis' columns are not intended to constitute a description of the securities bought, sold, or held by the firm in its capacity as an advisor. The views and opinions expressed in Mr. Lewis' columns are also not an indication of any intention to buy, sell, or hold any security on behalf of the advisor’s clients, and investment decisions made on behalf of clients may change at any time and for any reason. Mr. Lewis' columns are not intended to constitute investment advice or a recommendation to buy, sell, or hold any security.