13th day of QQQ short term up-trend; SLV entering Stage IV decline?

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The QQQ short term up-trend survived on Monday.   I am holding on to a few small long positions……

A reader asked me to plot SLV like I did   GLD yesterday.   SLV tracks silver.   The chart for SLV is much more negative than the one for GLD.   Note the huge down volume from the peak and the break below the 30 week average (red line). Silver may be entering a Stage IV decline. Click on chart to enlarge.

1 thought on “13th day of QQQ short term up-trend; SLV entering Stage IV decline?”

  1. Gains got wiped out last week, but I’ll still hold stocks, since every contratrian indicator is telling me to do so. P/E Ratios are at an all time low, treasury yields are at an all time low, dow dividend yields are at a 12 month high, still more bears than bulls, short interest ratio is increasing. I expect IBD to change to “uptrend resumes” today.

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