So, here’s what I wanted to know… did price and volume today serve as a confirmation of last Wednesday’s pop?

My take, looking at all 16 charts, and a chart of an average of all 16 prices and volume, to my way of thinking, is… that it was not.

I don’t see price or volume action today to have been either a great enough move higher, nor on a sufficient increase in share volume, to have constituted a confirmation. Volume, in the aggregate for all 16, was only 7% higher than its own 50-day moving average. And, price, while it did advance some… neither gold nor silver moved up even 1%.

No, a good confirmation rally breakout day is going to see the metals advance by more than 1%, and the volume will swell by, probably, at least 50% greater than the average.

Right now, 8:30 pm EST, gold’s up a dollar overseas, and silver is unchanged. Let’s see what Wednesday morning will bring.

Harold

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7 thoughts on “Tuesday Trigger?

    1. With today’s Devine and volitility I have placed a couple day trades, picking up a quick 25 cents a share a couple of times.

      Like

    1. I left 10 to 15 cents on the table. I just put in the sell order and went back to my day job.

      We will see what tomorrow brings.

      Like

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