Silver and S&P 500 facing resistance…Dollar decline going to help them?

Posted by Chris Kimble on 05/20/2011 at 4:39 am; This entry is filed under S&P 500, silver.

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U.S. Dollar is breaking a short-term support line (see post here).  If that weakness should continue, Silver and the 500 index should have some success at getting above  short-term resistance!

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7 Comments

  1. Andrew May 20th, 2011 at 5:45 am

    watching same thing you are!…long SDS and ZSL with tight stops

  2. belsha May 20th, 2011 at 6:07 am

    Yes, but that “short term resistance” also could be a “kiss of death” (it was support for a long time), no? Interesting day !

  3. Larry May 20th, 2011 at 8:55 am

    Chris,

    I use xrt retail etf as a guide for US economy since it is
    70% of our economy. There is a lot of pressure on it at this time. S&P might follow the xrt etf.

    Larry

  4. Aleks May 23rd, 2011 at 11:06 am

    Hi Chris
    how is Dollar technicaly looking?
    Thx
    Aleks

  5. Chris Kimble May 25th, 2011 at 5:04 am

    Broke above falling resistance and looks to be dealing with fib at this time!

  6. dattatray Purandare May 26th, 2011 at 10:52 pm

    Where silver is going?It has broken the support

  7. Chris Kimble June 1st, 2011 at 1:40 pm

    Silver…for the second time is hitting its 38% fib retracement level from the 30% decline of late. An unfilled gap comes into play at the 38% level too.