Loading ...but it looks like they sold us down with the SM?
Algo’s will be algo’s I guess.
If silver manages to bust through $37 tonight it will be very interesting to see if they give us one of their patented reversals and spend tomorrow reversing course.
We know we’re going to catch some crap going into the Fed meeting next week, the question is how much and when does it start. Do they wait until the end of the week, Thursday, Friday? Or do they wait until Monday? Maybe they start tomorrow.
There were some nice winners among the silver shares, but AG & HL have been leading, and they gave up the gains. AG has an RSI at 77 and has been up there for 3 straight days, they don’t like that. The HUI pretty much stunk up the place, with the move in silver, it should have done much better. SLV has an RSI at 72 and is way above its 50 dma, with a couple of gaps down around $31.50 and $30. It looks ripe for a beatdown of at least a couple bucks.
Unfortunately, we still aren’t like the SM where RSI’s on tech stocks stay in the 70’s or 80’s for weeks or months without correcting.
I see Bitcoin was up another $3K today – quietly. I don’t like the smell right now.