It Must Be Those Evil ‘Manipulators’

When the ‘forecasts’ don’t work out, the complaining comes out.

As Dr. Elder said (paraphrasing), ‘Mistakes in the market are to be expected. Repeating mistakes is a sign of neurosis’.

Typical responses from a YouTube site, forever expecting the ‘hyperinflation’ launch, the usual suspects:

Silver is beyond pathetic

Uggggh premature [launch] AGAIN!

… negative sentiment … a little overdone

Actually, if we’re in a full-blown economic depression, negative sentiment has not even started (not advice, not a recommendation).

Silver, along with copper (and lumber) are good indicators for the health of the economy. So far, lumber has crashed outright; down ~70% from its 2021, peak.

For copper bellwether, Freeport McMoRan (FCX), it has not looked back since this report.

Let’s move on to silver. What’s the market telling us about the next likely direction?

Silver SLV, Weekly Close

As Yogi Berra said … ‘It’s Deja Vu all over again’ 🙂

The last time there was a similar upside volume crescendo, it marked the pivot point for a 30%, decline.

That decline took two-years to (fully) recover. Hardly ‘hyperinflation’.

Now, we’re at The Danger Point®, anything can happen.

If it’s another downside pivot, just the looks suggest a deeper decline than last time.

If, however, this time really is different, one would expect the upside to get started … and soon.

Stay Tuned

Charts by StockCharts

Note:  Posts on this site are for education purposes only.  They provide one firm’s insight on the markets.  Not investment advice.  See additional disclaimer here.

The Danger Point®, trade mark: No. 6,505,279