• 698 days Will The ECB Continue To Hike Rates?
  • 698 days Forbes: Aramco Remains Largest Company In The Middle East
  • 700 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,100 days Could Crypto Overtake Traditional Investment?
  • 1,104 days Americans Still Quitting Jobs At Record Pace
  • 1,106 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,109 days Is The Dollar Too Strong?
  • 1,110 days Big Tech Disappoints Investors on Earnings Calls
  • 1,111 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,112 days China Is Quietly Trying To Distance Itself From Russia
  • 1,113 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,116 days Crypto Investors Won Big In 2021
  • 1,117 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,118 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,120 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,120 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,123 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,124 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,124 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,126 days Are NFTs About To Take Over Gaming?
Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

  1. Home
  2. Markets
  3. Other

Silver May Be Making a Blow-Off Top Today

The silver ETF normally trades 14 million shares per day (3-month average). Today as of 3:00 pm ET, it has traded 114 million shares or 691% above its average, which is very, very rare. We have been concerned about a rally in the dollar and the possible negative impact on silver and gold. While today's gains in the dollar are still somewhat tepid from a conviction standpoint, the greenback is still up for the 3rd day in a row. As of 3 pm ET, SLV is off 5% from its intraday high. It is possible we are seeing what is known as a "blow-off" top in SLV today. If SLV finishes the day in the red, which may not happen given silver's incredible strength, then it may be a sign of a short-term reversal. We have to see how SLV closes before we can read too much into it.

 

Back to homepage

Leave a comment

Leave a comment