Thursday, May 5, 2011

Silver Dead Cat or Something else

I didn't see much I really liked today in SLV, not anything really convingng, but looking at PSLV, there's a 15 min positive divergence forming that looks pretty clean. whether this is a dead cat bounce, a blip or something else, I have no idea and if it were to bounce, I can't say what the CME would do under a presidential directive (we see a hike just about every other day so tomorrow we'd be due for the 5th at the rate the CME has been going).

In any case, take a look at PSLV.

PSLV tracks a bit different then SLV, but that's a pretty clean signal on a 15 min chart. Remember that divergences can go on for several days, it all depends on how much they're trying to accumulate. I will say this looks pretty mature, pretty fast.

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