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Are the CLEAREST wave counts in the SILVER stocks?


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#1 senorBS

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Posted 13 November 2017 - 06:40 PM

Perhaps the clearest most interesting count here is that of SIL which IMO had a massive 5-wave rally in 2016 from 14.94 to 54.34, an A wave low I think bottomed in March at an intraday low of 30.50, I think this current leg down is wave C (likely a diagonal tri wave C) and today's low was 30.55 - just shy of that wave A intraday low. Note that basis a daily close only chart today took out the March wave A closing low. Also a .618 retrace of that huge 2016 advance is at 30.00 so there is more room down to hit the .618.
 
Also note that both CDE and HL IMO have similar counts (5-wave rallies in 2016) with their respective "C" waves down here much sharper than that of SIL. And today HL finally hit its .618 retrace of the 2016 rally which was 3.91 and that's about where it closed. CDE's .618 was 7.26 - went just below it today at 7.09 intraday low (close near 7.19).
 
So in my view there is a compelling case for a key low here but now we have to see the price action prove it out.
 
The best BS I got here in a tough hombre market
 
Senor


#2 gannman

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Posted 13 November 2017 - 08:09 PM

it has been one tough as heck market . the earnings in the silver stocks have not been good but stocks like fnv and nem have come thru. 

 

i am with you i think a major low could occur this week . the metals themselves have held up a lot better than the miners. just watching slv 

 

here fwiw 


feeling mellow with the yellow metal


#3 gannman

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Posted 13 November 2017 - 08:14 PM

and aem has been good i just dont see aem going in the tank here fwiw


feeling mellow with the yellow metal


#4 senorBS

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Posted 13 November 2017 - 08:30 PM

and aem has been good i just dont see aem going in the tank here fwiw

I don't either but if we don't rally soon I think we could grind lower into end of ye and perhaps get another Dec/Jan bottom, seems too many are looking for that so lets see what happens

 

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#5 Smithy

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Posted 13 November 2017 - 09:22 PM

I have the SLV wave ii of (3) of 3 low a month ago in early October and interpret the triangle of the last month bullishly. If the upmove doesn't start by next week then it's back to the drawing board.



#6 dharma

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Posted 14 November 2017 - 11:29 AM

miners are weak and continue to get beat up. miners lead up and down.  the market has to find footing and soon.  otherwise there is more correction in the cards. the commercials have done little , but the bait the large specs have an outsized long position.   http://news.goldseek.com/COT/1510605129.php  i find it interesting that the commercials have their largest short position ever in energy

otherwise this gets pushed out till dec/january

watching paint dry

dharma



#7 gannman

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Posted 14 November 2017 - 12:39 PM

I like the action today still no clear buy signal but good so far fwiw
feeling mellow with the yellow metal


#8 senorBS

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Posted 14 November 2017 - 01:03 PM

I like the action today still no clear buy signal but good so far fwiw

yep, so far so good and "if" we close well could be a key reversal level from a price area where I feel it had to reverse from "if" bullish, we see

 

Senor



#9 senorBS

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Posted 15 November 2017 - 11:58 AM

SIL low at 30.28 so far - 28 cents from the .618 at 30.00. The games they play - HL was blow out the first 2 days of this week to 3.63 (below the .618 near 3.91). its now trading near 4 and that could be one helluva interesting weekly candle, we see

 

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#10 dougie

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Posted 15 November 2017 - 12:51 PM

You buying any of these blown silvers? Perhaps the stock prices are telling us silver headed back to 11?