Thursday, August 18, 2011

SLV

I'm sorry, I've been trying to get this post out for an hour and a half. Here's the SLV/ZSL Update.
 Rarely do I use Worden's Money Stream because it rarely gives signals, but when I saw this, I had to show you. This is a severe negative divergence in SLV's daily chart.

 I probably wouldn't have posted it had it not been for the severe positive divergence in ZSL's daily chart (ZSL being the short on silver/SLV).

 The hourly chart of silver showed a breakdown, then a positive divergence, I showed this to you at the time it happened as t was odd, well prices moved up from that positive divergence, but now 3C is lagging price, so that's a negative leading divergence.

 ZSL had almost the opposite, it has shown accumulation and now it's leading positive.

 This is SLV's 30 min chart with a negative leading divergence.

 SLV's 15 min chart shows the same.

 ZSL's 15 min chart is in a leading positive divergence.

 SLV's 10 mn chart is in a negative divergence and leading.

 ZSL's 10 min is leading positive.

 ZSL's 5 min is also leading positive.

Here's an hourly chart of SLV in a bearish ascending wedge, most traders expect a straight drop down out of the wedge, because it is so obvious, it is likely to be gamed, so I would look for a breakout to the upside, maybe even a new local high and then a plunge in SLV, lifting ZSL. It shouldn't be long now that the wedge is so tight.

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