• 15 hours Companies Want You To Pay To Keep Your Data Safe From Them
  • 21 hours Why Are Solar Investments Plummeting?
  • 2 days Workers Walk A Tightrope As Shutdown Puts Paychecks On Hold
  • 2 days Key Indicators Suggest A Recession Is Closer Than We Thought
  • 3 days Palladium Surpasses Gold As Demand Continues To Rise
  • 3 days Is Another Gold Rally On The Horizon?
  • 4 days Most Crypto Investors Don’t Know This Tax Loophole
  • 4 days How Tech Is Decentralizing The Energy Industry
  • 4 days Dissecting Europe's Massive Tennis Match-Fixing Scandal
  • 4 days This Gold Deal Could Be A Boon For The Mining Industry
  • 5 days 5 Companies That Could Win Big As The U.S. Legalizes Sports Betting
  • 5 days May Survives No-Confidence Vote Despite Huge Loss On Brexit Deal
  • 5 days U.S. Trade Deficit With China Grows To Record High
  • 5 days Big Oil Doubles Down On Blockchain Tech
  • 5 days What Top Financial Analysts Are Saying About Brexit
  • 6 days Billion Dollar Opportunity In The World’s Most Exciting Sector
  • 6 days Cash Is Now A $3-Trillion Safe Haven Bet
  • 6 days How Advertisers Are Forced Into Politics
  • 6 days Automakers Go All-In On Electric Vehicles
  • 6 days How Will The Government Shutdown Impact Gold?
Saudi Stocks Plummet As Foreign Investors Bail

Saudi Stocks Plummet As Foreign Investors Bail

The death of journalist Jamal…

The Corporate Buyback Bubble Is Bursting

The Corporate Buyback Bubble Is Bursting

Corporate stock buybacks have surged…

readtheticker

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…

Contact Author

  1. Home
  2. Markets
  3. Other

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