The market that will be most damaged by QE bond purchases is the US dollar. The destructive action of quantitative easing is somewhat hidden, because other central banks are also damaging their own currencies. Technically, the US dollar is somewhat overbought, and the counter-trend rally is failing. The key number is 80.50 and an additional monthly close below that key level sets the stage for a substantial downside move.
Right now, the normally-volatile silver mining stocks are the star of the precious metals show. The incredible resiliency of silver stocks during this correction, implies that they could run like the wind once the bull trend resumes. A move higher in silver stocks also sets up the underlying metal, for a solid move to the upside. Please note the position of the MACD indicator, as well as the very bullish volume pattern. Silver stocks, and silver, may be about to soar!