DavyJ

Weekly ETF Rewind: Back in Overbought Territory

Over-bought or not, look at this almost perfect inverse head and shoulders pattern on the weekly chart.

stockcharts.com/h-sc/u...

It's odd that I see no other mention of this, considering how much the head and shoulders pattern on the daily chart was in the news 5 or 6 weeks ago.

Kind of scary if one is bearish.

Or is this another setup to catch the technical analysts off guard?

The Disconnect Between Supply and Demand in Gold & Silver Markets

You said: "But, let’s return to reality. Right now, virtually no North American precious metals dealer can give you a firm delivery date on large quantities of silver. They have no stock to sell. This means demand is robust."

At the risk of suffering the wrath of the conspiracy theorists, a much simpler explanation might be:

The precious metals dealers have so much inventory at costs far above the current prices that their spreads have vanished. So rather than take a loss on their inventory they say there is none in stock. In the meantime, they are still willing to buy at today's prices and will fill new orders with this new inventory as it becomes available.

But what fun is it if there is no conspiracy?