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Trend table status

Trend

SP-500

R2000

COMPX

Primary

Up 7/31/20

Up 1/29/21

Up 5/29/20

Intermediate

Up 10/2/20

?+ 4/23/20

?+ 4/30/21

Sub-Intermediate

Up 3/29/21

? 4/5/21

?- 5/10/21

Short term

Up 4/1/21

Dn 5/10/21

Dn 5/4/21


Don Worden of Worden Brothers (makers of Telechart software) used to keep a trend table before his health issues got in the way. I always found it useful. Mine is slightly different. Hopefully helpful. Up? or Dn? means loss of momentum. ? by itself means trend is neutral. ?+ or ?- means trend is neutral with bias of up(+) or down (-)

Wednesday, June 13, 2012

Silver (SLV ETF)

I have looked at GLD a few times now, I thought it might be time to take a look at silver.  Lets start out with the weekly chart.


We have a very big descending triangle pattern forming and we are getting very near the apex.  The big volume bars back in April last year make the volume a little hard to see.  The yellow line in the volume section of the chart is a 50 day average and you can see that it is falling over the last few months.  This is normal for a triangle pattern and indicates buyers and sellers are coming into balance.  The price bars indicate the weekly short term trend might go neutral this week, depending on where we close.  There is a very clear triple bottom within the triangle formation.  That could support a significant move up if SLV is able to break that upper trend line.  Lets have a look at the daily chart.


The 18 SMA is starting to turn up so this chart is clearly improving.  Just like GLD there are some significant moving averages over head, so an up move from here is likely to be pretty bumpy.  It looks like it wants to go up in the short term, but there is a lot of work to be done on these charts before pronouncing the final bottom is in.

Bob

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The information in this blog is provided for educational purposes only and is not to be construed as investment advice.