Thursday, May 10, 2012

Silver Update

The potential reversal in silver is now at the very end of our timing window. The Neptune-Mercury conjunction was late in the day on the 8th so a bottom on the 9th would still fit. If this holds I will have to give more respect to Mercury, however, I don't have high hopes for this.

Unfortunately from a harmonics standpoint, if this does not hold I don't see another good opportunity for a major reversal until June. But this would fit well with some important turn dates in the Nasdaq so it should be an interesting time. More on this later.

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