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Last night, all the markets sold off in a steady fashion, but the Midnight Magic has returned, and, whoosh, it just blasted off from there. No, there isn’t news about “even MORE narrow” tariffs. It’s just people falling all over themselves to get back in.
Well, gang, Sunday futures are open, and equities are generally up about six-tenths of a percent as of this writing. We’ve got a gap up, and I’ve gone ahead and dispensed with the horizontal “jump rope” since I’m quite weary of writing about the sinewave that’s been going on for the past two weeks. The real question now is simple: this time, will the bulls finally get their act together enough to launch up to meaningful resistance, instead of dicking around in the 5725 zone and going nowhere.
I have a panic low indicator that triggered on Costco. It has plenty of signals generated at tradable low, but sometimes the signal is early because the move down isn’t finished. I went looking for a similar setup with the very weak bounce and found a possible match: May 2022.
The gold price is, after all, doing this…
Silver has been climbing strongly, albeit awkwardly, higher for years at this point. What’s particularly interesting to me is how the volume of the PSLV ETF has been pulsing higher as well. My relationship with silver is, let’s say, complicated, but I’m still a bull and a booster!
