Silver Looking More Constructive Again

We're playing this very carefully, but Silver did now construct a fairly solid bottom.  As of this morning it is moving up to the $35.80 mark again, which has served as resistance on a daily closing basis for the past nine trading days.  A move above that level could lead to higher levels. Gold is […]

Friday Afternoon Charting Fun: Gold

A little perspective on the move in gold should go a long way.   The inverse head and shoulder pattern that developed from November to March hit it's ultimate target almost to the dime near $153 (on the GLD).     After the recent 6.5% correction the GLD found support at the rising 50 day […]

Market Summary – April 27

This here is the martini-hour thoughts newsletter summary sent to premium members.  I am posting it today on the public blog  here as a sample, but without the charts.  Enjoy!     Wednesday, April 27                                                             Just as we wrote in the morning line-up letter, the morning ended up fairly boring in terms of pure […]

Watch The Close In Silver Today, Important

After a huge spike in the futures overnight…they were up as much as 8ish%…it almost touched the psychcologically important $50 area ($49.80) to be exact.  That was the absolute high however so far today and for the time being at least it looks like silver futures might leave a huge tail today (candlestick with long […]

Copper Looking For Further Upside

I just wanted to reiterate this: Copper is often being looked to as a leading indicator for global economic growth.  Whether that's true this time around or not is fairly irrelevant for my note here.  Looking at the chart below I note a downward-trending channel that Copper is now looking to break out of to […]

Morning Update, SPX, Metals & More

  An early selloff led to a classic intraday double-bottom and ended up with a rally.  On the S&P500 daily charts we now have the 50 dma and the critical $1300 right here and looking at the overnight futures (up 0.75% right now) we might open above those two key levels.  Whether that ends up being a […]

Silver (SLV) Looking For Further Upside

After a two week 'resting' period silver and gold look ready to party at higher levels.  Look at the triangle-shaped consolidation pattern in the chart below.  I will be long at the market with stops at $33 and targets at $39.  It is of course possible this is some sort of double top, but given […]

Early Monday Apr 11: Weekly Newsletter, Video & more

Good morning folks Hope everyone had a great weekend and is ready for the beginning of earnings season.  In overnight action so far equity futures are up around 1/3 of a percent, silver up, gold and most of all oil are down. I sent out the weekly newsletter late last night. Sign up here if […]

Outside Day In Silver

There is an outside day in silver in progress today and I am short the SLV as of late morning.  A target at $38 is feasible in the very near term, stop is at today's high of $40.33