Market Curiosity: Exploring Markets And Systems

April 8, 2011

Silver update April 8th

Filed under: Just Watching — Tags: , , , — Jeff Fitzmyers @ 1:08 am

Silver is up a significant amount overnight. And importantly, bonds and the dollar index are both down while most everything else is up. But this is after hours. If these trends continue tomorrow I would think they will stick.

USDX looks so sorry & sick tonight. Shelve ur preconceived notions of what commodities “should” be doing. These moves lately are FX driven.

To me, this could mean that enough of the background machinations are spilling to the forefront that things could start to shift quickly. There is so much going on, and I am busy right now with other things, I don’t even try to keep up.

+ Surprising Observations From TrimTabs: “Are Central Bankers Loading Up On Gold?”
+ A breakout of this consolidation expanding wedge is huge. A halfway consolidation in time & price.
+ More Trump: Smackdown on MSNBC
+ Marc Faber – Mr. Bernanke is a Murderer of the Middle Class
++ (Excellent charts!) Silver Is Getting Too Popular… Right? By Jeff Clark of Casey Research

Please click on MRCI long term silver chart and note that once silver moved out of it’s final (for 1979) consolidation, it spiked up 3 months (about) and that was it. I’m not saying silver will spike now, only that it could, and likely most generic black boxes don’t include that data.

Normally, it seems that silver is sold hard if it opens significantly higher then the previous days high if price is a bit extended. Maybe not this time???

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