Silver Lining:
Gold receives most of the focus in the precious metals space, and give it credit as the GLD has blasted above its 200 day SMA last week after being below that line since mid-June. But silver warrants some attention as the commodity is firming. PAAS is higher by almost 7% this week as it could be starting the right side of a double bottom base on its WEEKLY chart in a pattern that began after it was rejected at the round 40 number in August 2020. Below is the chart of the SLV and it is trying to duplicate what the GLD already did in advancing above its 200 day SMA. The ETF bounced off the very round 20 number the week ending 10/1, which started a 4-week winning streak after the 3 weeks ending between 9/17-10/1 all CLOSED very tautly within just .12 of each other. Is silver ready to join the strong market into its year-end rally, or is it a sign of something more sinister? I think it would broaden the breadth and join along the overall market incline.