Tag Archives: SLV

Silver’s ‘Measured Move’

October 13, 2024 By in Gold & Silver, SLV Tags: , , , ,

Bullish & Bearish

For the past six months, the overall strategic assessment of silver has been consistent; sideways to bearish.

Stategic, because there are always opportunities for bulls and bears if your timeframe is short enough.

Six months ago in May, the high for silver SLV, was 29.56. So far this month, the high is 30.01, a +1.52% difference.

Not exactly ‘sideways’ but as we’ll see below, it’s potentially bearish (not advice, not a recommendation).

Silver SLV, Weekly

The measured move, discussed back in May, link here.

Back then, at the link above was this:

“The coming week could see SLV, inch its way higher to the measured move or continue the testing (possibly, reversal) action it started last week.“

Well, it took SLV, nineteen-weeks to ‘inch its way higher’ to just tap the measured move target.

All of which brings us to the next chart.

If the wedge is in-effect and SLV breaks down, depending on location, SLV, target could be in the vicinity of 20 – 22 area (not advice, not a recommendation).

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

Bad News for Silver Bulls

October 8, 2024 By in Gold & Silver, SLV, Wyckoff Tags:

It’s Like A ‘Broken Dream’

For silver bulls, it must feel like the old Rod Stewart song, from the early 70’s, ‘In a Broken Dream’;

‘Right now, is where you are … in a broken dream’

Especially so, for those allowing themselves to be subjected to non-stop propaganda about a ‘hyperinflation breakout’ or that silver’s going to ‘close the gap’ with gold.

So, it’s been nearly six months … where is it?

Meanwhile, back at the ranch during those same six-months, the press and YouTube grifters et al., were ignored.

Analysis was fact based; what’s the market saying is the most likely thing to happen?

The last post, link here, said to watch out for a failed breakout (Wyckoff Up-Thrust).

Silver SLV, Weekly

SLV price action has posted a new weekly low; both MACD lines, and histogram, show bearish divergence.

Of course, anything can happen. Silver could move higher.

However, the chart says, at this point, probability for (significantly) higher action is low (not advice, not a recommendation).

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

Silver’s Bearish Divergence

September 25, 2024 By in Gold & Silver, NVDA, SLV Tags: 2 Comments

Prepare for Hysteria

If you know something’s coming, then you can keep your head when it actually happens.

Nothing seems to bring out the (dollar collapse) pundits more than precious metals and specifically silver; we can throw in Nvidia as well, but that’s another story.

Strategically, Wyckoff analysis all the way back to April, of this year has proven correct.

That is, silver is not launching into some kind of hyperinflation breakout; it would have already done so.

No, silver is either preparing for a downside reversal or sideways congestion (not advice, not a recommendation).

We have one datapoint after another, the consumer is strapped; corporations, industries using silver are collapsing, going bankrupt; bullion dealers themselves have said silver demand has evaporated and on it goes.

With that, let’s look at what silver (SLV) is telling us.

Silver SLV Tracking ETF, Weekly

As of this post (10:45 a.m., EST), silver (SLV) is nearing yesterday’s high of 29.44

We’ve got a weekly bearish divergence that will be in effect if there’s a breakout and downside reversal (not advice, not a recommendation).

Of course, the question is, what happens if/when we get a breakout?

One thing is almost for sure, the ‘dollar collapse’ pundits, YouTubers et al., will be out in force. 🙂

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