Well, not much to say – as it looks like another day of S&P meandering around. Silver is the more interesting chart with a pop yesterday and today a retrace towards 19.8. It looks like we may get one more l
The pink count is more bullish, whereas the blue count suggests another flat week. Resistance remains in the prior B-wave high at 2191. What happens remainder of this week really depends on how the consolidation will happen overnight and whether the move to 2190 is strong enough. if not, it will likely turn back down.
In the prior S&P chart, I suggested a retest of 2180 – and possibility dipping towards 2170. In reality, we didn’t make it below 2170 – but got to 2173 before quickly reversing to the upside.
In the prior silver chart, I brought up the possibility that Silver would really near the Labor Day Weekend – here’s what the previous chart showed:
Indeed, we touched over 20.2 as shown in the above chart before retracing towards 19.8
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