EARNINGS: No options liquid underlyings announcing earnings this week that meet my criteria for a volatility contraction play, although ORCL (24/31) and WORK (2/33) both announce and could be played in some other way. EXCHANGE-TRADED FUNDS RANKED BY THE PERCENTAGE THE JANUARY AT-THE-MONEY SHORT STRADDLE IS PAYING AS A FUNCTION OF STOCK PRICE: GDXJ...
Gold was a safety hedge in an uncertain world. There is no surprise we saw a massive sell-off with Covid vaccines being announced. Both vaccines are still waiting on final FDA approval. The real game-changer however could be Johnson & Johnson's vaccine which only requires one shot and no special refrigeration outside that already widely required for current...
Gold has entered the pivot zone. The hard metal is always a hold to me personally, but it helps to study the charts to get an idea of the algorithmic driving forces and other oddities. In this case, I couldn't help but see this Nov Nov Nov trend and the math behind the madness. The pattern suggests it'll be supportive. Watch it closely the next few weeks. We need...
Silver (AUD) - Symmetrical triangle consolidation.
Taking a look at the weekly progress of multiple correlated markets and updated price targets: Bitcoin, Gold, Silver, USD, S&P500 Bitcoin Excluding the March mayhem deviation in price, weeks ago there were hints of a parabolic trend starting to develop. The breakout of a macro downtrend and weekly candle close above it was the buy signal. Using macro...
$SLV makes a nice long, on silver futures. The gain is not tremendous, but it seems "safe" (A word I loathe using, but will). With Au trending up, Ag should match it after it finishes this bottom out -- It's down 0.5% pre-market and may fall a full percentage point, at which entrance can be considered. This won't knock the socks off a thing - but who flicks...
Silver (AUD)- Symmetrical Triangle on the daily chart. Breakout soon.
Silver seems to have excellent growth potential in the next couple of years. This is a look at longer term fib support and resistance levels of silver. The fib levels on the right - more recent - part of the chart show retrace from April 2011 - Mar 2020. The .382 level was broken through as resistance, but has not gone down again to retest of .382 level as...
AMEX:SLV has been super volatile however I have noticed a trend with this precious metal. When it is priced at or higher than $23 it tends to turn down pretty rapidly and the same goes for pricing at 21.95 in the opposite direction. While it is hard to gauge the exact demand/supply of SLV and market conditions CCI shows clearly overbought and oversold conditions...
Gold looks like it's about to make a new leg higher but will it also drop 5-7% first? The dollar and gold tend to create very distinctive price cycles if you know how to look for them. Renko helps to see these price cycles and time seems irrelevant to them. I am seeing a cycle low in the works now but I'm not sure if it's complete yet. I will venture to say...
EARNINGS ANNOUNCEMENT VOLATILITY CONTRACTION PLAYS: WKHS (18/146/38.8%),* Monday, before market open. PLUG (32/100/25.6%), Monday, before market open. DKNG (32/89/23.6%), Friday, before market open. CGC (39/132/23.5%), Monday, before market open. BYND (32/77/18.9%), Monday, after market close. LYFT (16/71/18.0%), Tuesday after market close. Pictured here is a...
Silver has historically thrived under Democratic presidents, and I think this will be no different this time around if (or when) Biden wins. SLV seemed to recover the last 2 days of this week on riding the trendline that's been dating back to March of this year. I'm going to be watching 24.25 as resistance this week with possible upside of 25.50's in the short...
Silver (AUD) Breakout from Symmetrical triangle.
Silver looking vulnerable here. Broke rising channel support, retesting falling wedge resistance. Lot of work to do to get above horiz. resistance @ 26. Looking like another leg down through yr end if it can't break out here soon. aVWAP from March low is 22.42. $SLV
The disconnect between physical and paper markets is considerable. The paper markets represent $5T whereas there is a $20B market for physical silver. If the price of silver were based off the total market, silver's price value would be roughly $5000/oz. Not saying silver is going there but this is decades of manipulation and curving demand from the physical...
#SLV Setting up a bullish pennant on weekly and daily time frames. High volume run ups are usually followed by a period of consolidation before a continuation/reversal. Once silver breaks above the upper trendline and clears 23.55, SLV should start its move to $30+ by the end of the year. This is just the start for silver and gold and if it isn't a part of your...