SLV Update

Well there's still some correlation left as SLV took off about an hour after the market.

 The 1 min chart and our negative divergence that led to the waterfall sell-off-note there's no positive divergence leading prices higher-market correlation.

 The 5 min still shows some trouble here as it hasn't had the chance to confirm at all today and it's just a 5 min chart.

Here's the first guess of where we are going. While we are there, a false breakout would probably be a likely event so we'll watch for that. It's still not clear that JPM has lost this battle, there's no real sign of short covering as I'd expect, but there was a good sign of a bear raid today.