Silver might be a Stage 2 Bounce Candidate

There are some signs now of those intraday charts (for timing) starting to put some brakes on this slide lower, but we'll get to that in a moment.

I want to stress 1 thing, if stage 2 (bounce) is going to be a dead cat and that's it (meaning there's not a decent size base to make a decent size move), then I may skip all or most stage 2 longs and just wait to short in to the dead cat bounce (stage 3). The trade still has to be a high probability of success, not just a stronger probability or a dead cat bounce that is volatile and completely unpredictable, that's not a high probability trade.

Here's what I see in SLV and Silver Futures

 SLV 2 min in context with the divergence starting on the 9th and leading negative badly by the 11th.

 The reason why I posted the above chart was so this 2 min divergence can be put in to perspective. Near term 3C needs to turn up and make a higher high to really lock this in.

 The 3 min chart is the same, there was a leading positive earlier, but now 3C needs to make a new high to lock it in and make it count.

 The 5 min chart is leading positive, however like I said, if that leads to a dead cat bounce tomorrow, that's not a move I want to invest in, it would be too unpredictable, however because of the longer divergences in the futures, I have a feeling that won't be the case with most assets, silver may be an exception just because of the nature of the move up until today.

 SLV 10 min shows the positive divergence that caused us to buy the leveraged AGQ 2x Bull Silver ETF, but note that there's at least 3 days of positive divergence in to some lower prices so it was a decent size base. We sold at the first negative divergence on the 9th so we bought at the very bottom, sold at the very top for a 8+% 3.5 day move. I also wanted to put the current 10 min divergence in to perspective.

 Here's the 10 min up closer so it needed to be put in to perspective.

 The SI/Silver Futures 30 min 3C chart with the positive divergence in to the 4th and negative in to the 9th. One thing I like is the heavy volume recently in silver, it looks like short term capitulation.

 The 15 min SI futures have a decent positive in place, this could be worth investigating and possibly looking at a partial position. I'd rather see SLV have more of a base first.

SI 5 min chart leading positive today in to a flat range seen in SLV and heavy volume, perhaps we get a SLV closing candle like a star or Doji, then a gap down tomorrow with positive divergences and a move just above today's close would be a higher probability of a bullish engulfing candle on a star reversal candle today, that may be the set up worth looking for.