Silver - Update

Perhaps Silver is aiming for the tip of these triangles.  Silver has been the leader and Gold the follower in January.  Gold has been firmer than Silver over the last few days.  Silver may be in a holding pattern with minimal upside waiting for Gold to form a short term top.

Both should be ready to dip soon.

Daily Chart

$SPX - Feb 6th

The next major timing date to watch according to the "Eye of the Hurricane" chart is Feb 6th.  Monday looks positive in the cycle analysis, and the market should bounce.  Tuesday morning looks really weak though so a low early in the week looks probable, and then rocket up later in the week.

The upside target remains at 1340, and Feb 6th is an important date to watch. 

10min Chart

Silver - Target and Timing Boxes

Silver is currently trading with striking similarity to early 2011.  The identical sized timing and price boxes are matching up well with the current Silver market.  There is perfect geometry using the price and timing boxes with an indicated target at $37.

On Monday January 30th, or Tuesday at the latest, Silver should start to dip hard short term even if it rises slightly first.  Overall though Silver is anticipated to continue to rise in choppy trading through February.

Look closely, and you will see three identical sized triangles.  Silver may seem to trade erratically without any rhyme or reason.  Not so...  It is very precise price action.

Daily Chart

February Silver Map:

2hour Chart

Silver/Gold - Updates

Silver likely has run out of room to advance for now.  Resistance was expected at the green line, and then the the pink line.  This pink line should prove to be strong resistance.  A significant dip is expected next for Silver, and further analysis will be coming shortly with target levels.

60min Chart

Gold broke out of the bullish wedge pattern as expected.  There may be minimal upside to meet the time and price target.  The yellow lines were drawn on the Jan 16th Gold analysis: 

http://cyclicalmarketanalysis.blogspot.com/2012/01/gold-starting-to-shine.html

2hour Chart

$SPX - Target Raised to 1340

This rally seems poised to defy gravity, and end with a bang.  The geometry is aligned for a final surge up to 1340 SPX, and timing appears to be Monday, January 30th.

1340 is an interesting number.

The May 2011 high was 1370, and SPX fell to the Oct low at 1074.  That is a 296 point drop.  1340 SPX minus 296 points equals 1044 SPX.

The calculated target for a major decline remains at 1044 SPX.

30min Chart

2day Chart

$SPX - Correction Due

Today was a turn date in the timing cycles, and a correction is due.  The cycle analysis looks weaker for tomorrow/Wednesday and also around January 30-31st. 

The VIX gapped up, and that was a sign that the rally was about to fizzle.  The VIX bottom on Friday looks solid.  

15min Chart

Silver - Ready to Cool Off

Silver has been red hot, and it has been a great run up from the December bottom.  It is ready to cool off somewhat now with some significant retracements.  For the futures, a dip to $30.30 area seems likely.

Notice that the red and turquoise fork lines are exactly aligned as indicated at the green arrow.  Silver is trading in accordance with complex but exact geometric patterns.   

2hour Chart