• 853 days Will The ECB Continue To Hike Rates?
  • 853 days Forbes: Aramco Remains Largest Company In The Middle East
  • 855 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,255 days Could Crypto Overtake Traditional Investment?
  • 1,260 days Americans Still Quitting Jobs At Record Pace
  • 1,262 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,265 days Is The Dollar Too Strong?
  • 1,265 days Big Tech Disappoints Investors on Earnings Calls
  • 1,266 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,268 days China Is Quietly Trying To Distance Itself From Russia
  • 1,268 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,272 days Crypto Investors Won Big In 2021
  • 1,272 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,273 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,275 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,276 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,279 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,280 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,280 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,282 days Are NFTs About To Take Over Gaming?
Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

  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