Aug 8, 2024
/see morning post. On the very short term chart, SLV and other bullion pl;ayes are overbought and should pull back tomorrow allowing for a good entry.
NOte htet gap at the 9.24 level. Gold closed up $30 and silvve 55 cents. I think we will make a higher low tomorrow. This will be the case for the Sprott ETFs as well.
Crude oil has been trading in a 72-852 range. It bounced at the 72 level Wed and went another 82 cents higher today.
Bull SPX versus Bear SH
SPX main chart rallied, SH bear fund sold off.
August is seasonally a good month for stocks, usually setting up a ssell off from late August into late October. That may happen again this year.
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