SLV has been stronger then GLD all week, it not only took out the intraday highs, but managed to close at a new high. It's also pretty ugly right now.
The red trendline on this 1 min chart is the close yesterday and is providing some support as I'd expect. A break of this support will be an important event for SLV's trend and likely reversal.
The 10 min chart got ugly very fast today, as I mentioned, this whole process can happen in a day, but rarely does, Given the volume today, I can see why the 10 min chart went so negative so quickly.
Some of you may also want to take a look at TRID which had a limit buy order at $1.00-$1.03, it's made quit a move today, a pullback may offer an opportunity here, but this is a very speculative trade. Volume is up considerably, a close near the high increases the chance of a follow through move tomorrow.
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