$SI_F chart — dead in the water. Silver is a “risk-on” metal, what’s happening here?
Here’s a chart of the gold/silver ratio overlaid with $SPY. As you can see they usually have an inverse relationship but have recently begun to trend higher together (meaning that market is moving up while gold outperforms silver). It’s too short a time-frame to draw firm conclusions but it’s something to keep in the back of your head.
SPY chart near resistance zone from V move from 120 support — needs to digest this move. We’re in short-the-rally mode until the V formation is worked through. In bullish markets this means pops are faded intraday but support buyers show up before the close- – and this happens until the move is digested. In bear markets it means complete reversals.