"No warning can save people determined to grow suddently rich" - Lord Overstone

  • 8 hours Millennials Are Waiting For A $30T Inheritance That Might Not Come
  • 9 hours Is This the Tipping Point for American Credit Card Debt?
  • 10 hours Tech Icon Predicts A Big Future For Ethereum
  • 11 hours Apple Doubles Down On Data Privacy
  • 12 hours Where To Look As The Treasury Bond Bull Run Loses Steam
  • 13 hours The Tech Giants Poised For A Breakout
  • 15 hours The U.S. Dollar Is Set To Continue Its Rally
  • 16 hours Bitcoin Plummets On Price Manipulation Investigation
  • 1 day The Multi-Billion-Dollar Business Of Influence Peddling
  • 1 day Goldman Backed ‘Stablecoin’ Hopes To Curb Crypto Volatility
  • 1 day Consumers Lost $1.6M To Crypto Fraud In Australia
  • 1 day Facebook May Soon Become A Paid Service
  • 2 days How Far Can Gold Prices Fall?
  • 2 days The Battle For Shkreli's $2 Million Wu-Tang Record
  • 2 days The Bitcoin Miner Eyeing A $1 Billion IPO
  • 2 days China’s Social Credit Score Blacklists Travelers For Bad Behavior
  • 2 days Micron Soars On $10-Billion Share Buyback
  • 2 days Nearly Half Of All Americans Are Struggling Financially
  • 2 days Could Crypto Solve The Middle East’s Currency Crisis?
  • 3 days The Biggest Hurdle For The Buffett-Bezos Healthcare Plan
The Five Most Important Market Indicators

The Five Most Important Market Indicators

Stock markets can be overwhelming…

PayPal’s Latest Acquisition Has Competitors On Edge

PayPal’s Latest Acquisition Has Competitors On Edge

PayPal’s latest acquisition allows the…

readtheticker

readtheticker

We are financial market enthusiasts using methods expressed by the Gann, Hurst and Wyckoff with a few of our own proprietary tools. Readtheticker.com provides online…

More Info

This Chart Shows an Extreme Sell Down, Time to Watch This Security Daily - Update

Mark Twain

Time to review an ETF that looked like a starter for 10, so far it is acting well.

Previous Post: This chart shows an extreme sell down, time to watch this security daily

Silver like gold is a currency. Has been for 2,000 years. Silver and gold have attracted attention as paper currencies are jumping up and down scaring the folk, add to this the great crude oil sell off has mostly likely completed the largest part of its fall (not saying it has bottomed, just saying the fast and hard part is over). Maybe the folks are waking up to the Central Bank Play book and are seeking a hedge. (Disclosure, yip we are!)

The chart below shows price has reacted to the extreme outer channel, a little short covering, sure. Now we see if the short covering rolls into more serious bullish position taking.

So far SLV is acting well against channel support.

Silver Chart 1
Larger Image

The SLV very long term chart...

Silver Chart 2
Larger Image

The less manipulated and more true stock market the Russell 2000 index is hard up against the blue solid channel upper line, the longer it takes to FAIL to break out higher the more likely it will break lower to test the bull trend story. Yet, we suspect stocks with test higher prices soon.

RUL Chart
Larger Image

NOTE: readtheticker.com does allow users to load objects and text on charts, however some annotations are by a free third party image tool named Paint.net

Investing Quote...

"Anyone who buys or sells a stock, a bond or a commodity for profit is speculating if he employs intelligent foresight. If he does not, he is gambling." ~ Richard D Wyckoff

"The stock market is filled with individuals who know the price of everything, but the value of nothing." ~ Philip Fisher

 

Back to homepage

Leave a comment

Leave a comment