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Thursday, November 17, 2011

Silver - Volatile Again

The quiet sideways period is over and volatility is increasing in Silver again.  The rounded top formed as expected.  Today the midfork was tested and that should act as support on a short term basis.

Next, a rebound up is anticipated.  Stops can be placed under the midfork.

 A plunge to test the September low is anticipated to follow in December. 

60min Chart
Posted by at

25 comments:

  1. AnonymousNovember 17, 2011 at 3:55 PM

    EMINI CYCLE............


    http://imageshack.us/f/190/eminidailycycleupdate.gif/

    Good Trading! joed

    ReplyDelete
  2. SS76November 17, 2011 at 7:03 PM

    Thanks SC. Now, what about the actual spot price of Silver as opposed to the ETF (I trade HZU).

    Trying to determine your mid forlines as it relates to Silver spot is difficult.

    ReplyDelete
  3. AnonymousNovember 17, 2011 at 7:59 PM

    SC, GS ratio broke out (now above 54.5) of the flag pattern and seems to be on the way to high 50's and possibly higher. Your proposed silver bounce back up to 35.3 (physical) would suggest gold going back up to ~1800 level? Can you show where this symmetry idea comes from?
    Thank you.

    ReplyDelete
  4. SCNovember 17, 2011 at 9:02 PM

    That midfork would be near $31 on the Silver future. There is some interesting symmetry for sure.

    I'll update the Gold chart, and show some more detailed charts.

    ReplyDelete
  5. SCNovember 18, 2011 at 7:19 AM

    I am really looking forward to the next few months. This SPX whipsaw zone is coming to an end later this month. We're going to see nice, clean, large moves next.

    It's time to show some bigger picture charts. I've been holding back on those for a while now...

    ReplyDelete
  6. AnonymousNovember 18, 2011 at 8:09 AM

    Gabe

    I am a lurker and new> Do you have a web or blog? How do I learn more about trading?

    Tx, Syd

    ReplyDelete
  7. AnonymousNovember 18, 2011 at 8:45 AM

    Gabe

    Also how do I learn your auto system?

    Thanks in advance,

    Syd

    ReplyDelete
  8. AnonymousNovember 18, 2011 at 8:52 AM

    SC, so you think that volatility is going to subside for awhile .. or rather it will stay here just on a bigger scale - i.e. larger and longer moves up/down?

    ReplyDelete
  9. SCNovember 18, 2011 at 9:02 AM

    Yes, that's right. Large trends, rather than the day to day chop.

    I'm looking forward to it!

    ReplyDelete
  10. AnonymousNovember 18, 2011 at 9:17 AM

    Syd,

    I have closed my blog, it was just too much work for the time I have available! I mentor only now a few a year. The auto system is taught only to students! You can email me at trakktrader80@gamil.com Best, joed

    ReplyDelete
  11. AnonymousNovember 18, 2011 at 9:20 AM

    Syd

    Correction of email!

    trakktrader80@gmail.com

    Srry, joed

    ReplyDelete
  12. AnonymousNovember 18, 2011 at 9:37 AM

    ES INTRA DAY ACTION

    http://imageshack.us/photo/my-images/411/es1118.gif/

    Good trading! joed


    “A LINE IS NOTHING MORE THAN A LINE……….IT IS TIME THAT MAKES IT ACTIVE”

    ReplyDelete
  13. AnonymousNovember 18, 2011 at 10:50 AM

    EMINI day trading off posted support!

    http://imageshack.us/photo/my-images/842/es1118daytrade.gif/

    Best, joed

    ReplyDelete
  14. AnonymousNovember 18, 2011 at 11:02 AM

    EMINI 3 MIN

    PACMAN

    http://imageshack.us/photo/my-images/836/es1118daytrade3min.gif/

    ReplyDelete
  15. PKNovember 18, 2011 at 11:34 AM

    http://www.youtube.com/watch?v=q0kpsOXQV3w&feature=player_embedded

    Some Friday afternoon entertainment

    ReplyDelete
  16. SCNovember 18, 2011 at 11:45 AM

    Lol!!!

    ReplyDelete
  17. SantaNovember 18, 2011 at 12:58 PM

    Hi SC

    Do you still see monday as the lowest? didnt seem to go down much today...


    Thanks!

    ReplyDelete
  18. SCNovember 18, 2011 at 1:17 PM

    It did hold in there quite well today. I do think we can see lower, but after Monday, most of next week looks quite positive.

    NDX closed on a weak note today, financials had a rough week.

    All eyes next week may be on the debt super committee.

    ReplyDelete
  19. The HookNovember 18, 2011 at 4:38 PM

    Interested as to your intermediate term view.

    ReplyDelete
  20. PKNovember 18, 2011 at 5:54 PM

    SC what do u think of this scenario;

    We rally here (or early next week) possibly into the following week but not break above the late October highs (maybe into the 1250-1275 zone). Then December starts off negatively and we proceed to go all the way down to the October lows, maybe even breaking them slightly. From those levels we begin a true multi-month advance that surpasses the October highs and in fact exceeds the May highs. Is this scenario doable based on your analysis?

    ReplyDelete
  21. SCNovember 19, 2011 at 12:08 PM

    Very good PK. That scenario is much in tune with my cycle work!

    ReplyDelete
  22. StockboomNovember 20, 2011 at 5:54 AM

    If your cycle work suggest higher high then what will happen to gold and silver/?

    Greek bailout is in trouble as I am writing this....Monday could be blood bath....

    Thanks

    ReplyDelete
  23. SCNovember 20, 2011 at 9:38 AM

    Let me explain the situation better for the PM's with some charts. Once Gold completes this current sideways consolidation, then imo it heads up to $2,000 to top out.

    ReplyDelete
  24. SCNovember 22, 2011 at 7:32 AM

    Silver surging up! I am reviewing my upside target. I suspect it is too low.

    ReplyDelete
  25. ILUVPMSNovember 26, 2011 at 9:21 AM

    SC, when you say that gold heads to 2000 to top out, do you mean as a final top for the bull market? Also, with respect to silver where do you see it going once it bottoms again at 28?

    Cheers,

    ReplyDelete

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