The daily futures chart makes it clear. Silver had a pre-market whipsaw up and back down this morning and it remains on consolidation at short-term support, locked below the down-sloped 50 day average. It retains the potential to break upward from this consolidation, where it would find the noted resistance, which is significant, and just above that the SMA 200 at around 17. Here’s the … Continue reading The Work That Silver Needs to Do
Slowly the Gold/Silver ratio continues to turn; and step by step, inch by inch… The GSR even has a symmetry thing going on here as the little pullback has formed a right side shoulder to a baby Inverted H&S type pattern. Curiously, the GSR’s other rider of liquidity destruction, USD, is wobbling, but sloppy chart or not it’s doing so within a daily uptrend. So … Continue reading Gold/Silver Ratio: Slowly I Turn
In the update on April 24 we noted: On the VIX chart above 30 looks like better support than the current 35. That would project SPX to the old Bull Turnstile at the 3000 area. Here is the updated chart that went with the above. VIX has just about ticked the next support area at 30 and SPX is within hailing distance of 3000 (which … Continue reading NFTRH; Ref. April 24 update, risk view updated
