With Gold and Silver down sharply earlier in the week, we were keen to determine whether the correction had seen its worst. There was some evidence of this in Silver’s price action. The December futures, for one, were creating bullish impulse legs on the lesser charts even though Gold was languishing. The action in Silver Wheaton shares was especially encouraging, since SLW was moving robustly higher without having achieved a ‘d’ correction target. Even though the markets in general were quite sluggish, we were able to find subtle camouflage opportunities in several vehicles, including the E-Mini S&P.
