Weekly SPY closing line chart basis....

It's possible that despite all the bearish news that (via a dollar plummet) SPY could close the week at 120ish, which then tucks it's chart action right back up into the lower longer term trend channel.. as though this week never happened in the grand scheme of things.. of course in real terms any new highs would only be in nominal terms....

Time for silver to take another slap down?

Looks like silver wants some more attention...

135ish on the spy is the next target

The bottom is in. We can thrash around down here for another week or two but the break out will be higher up to 135ish on the SPY before it corrects to any degree. My ultimate target is 141...

spread closed on SLV/JJC

..and there you have it. Silver / Copper spread has closed but I do expect much more selling of both, down to 24ish on silver...

spread begins to close...

I'm wondering if once the spread between SLV/CRBQ/SPY closes it signals covering equity shorts and going long on a QE3 announcement. The spread is beginning to close today...

precious metals in a secondary blow off....

another view of the situation in silver is compared to both SPY and CRBQ which are suggesting major market slow down while silver breaks away to the upside. This spread will close soon enough....

copper / silver spread suggest good time to short silver

based on the 10 day comparison chart between copper and silver it looks like a good time to ease into short positions in SLV....

Head and shoulders neckline ready to bust

Looking for the neckline to break *briefly* at 1268 (closing basis line chart) taking us down hard leading into QE3. I still expect a new high into November as per the second chart...

just one marginal new high...

Just give me one marginal new high to get back short again...

I'm going with the brief dollar weakness train of thought..

Last night and today's trading in the /ES has me throwing in the towel and looking for a move up to near 1200. With all the talk about massive euro shorts along with the daily rsi on the /DX chart diverging and signaling a dip in the dollar just ahead not to mention the metals and energies took off running today in anticipation, I'm long small /ES looking for nominal new highs on a blow off type move..