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 […]

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 […]

Pre-Market Notes – Tuesday March 29th

Pre-Market Notes – March 29th   With the SPX right at (but above) the 50 dma, yesterday was a bit of a lazy session.  Investors need some rest here to digest the wild swings from the past two weeks.  At the same time it is quarter end (3 trading sessions left) this week so I would think the swings […]

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 […]

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    

Silver (SLV) Coming Into Support Zone

Silver's real parabolic move started at the end of January.  Looking at the below chart I note that the area between $37 and $38 serves as a) the 50% retracement from the low to the high of this move and b) where the 50 day simple moving average comes in.  Both of those items often […]

We Are Short Silver Again, For A Trade

After scaling out of the short SLV last week for a scratch trade, today we re-entered on the short side.  See the analysis from earlier today here: After SLV gapped down this morning we went short on a 50% retracement of the open gap, at 44.98.  Today's earlier low near $43.50 will be target 1 […]