SIZ23 – December Silver (Last:23.19)

The futures tripped a reverse-pattern buy signal Thursday night and then went blotto on Friday, unable to poke above the green line for more than a few minutes after three tries. There was no reason to hold a position over the weekend, but if you did anyway please let me know so that I can decide whether to provide a tracking position. Usually when a clear signal like this one produces…nada, it means the dominant trend — in this case down — will continue. Since I don’t have a crystal ball to predict how this mud-dog will open Sunday night, I will wait for it to instruct me. If I had to guess, I’d say traders will scare themselves to death with a gratuitous feint beneath C= 23.13, paving the way for a weak bounce that will not likely be tradeable unless we’re glued to the 3-minute chart.