Critical level for Silver, that needs to holds here or….

 

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Silver is facing a key support channel at (3) in the chart above, that if it fails to hold, could usher in selling pressure and much lower prices.  I have been sharing a price for Silver with Premium and metals members that I am interested in buying. At this time we are not there.

Be careful if support doesn't hold here in Silver...the next step down could be a large one!

Another bearish wick in Bio Tech took place!

 

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Bio Tech led on the way up and so far is been a leader on the way down!

Another bearish wick this past week took place in IBB.  Keep you eye on this leader and watch for its impact to the NDX 100 !!!

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What’s the message coming from the “Fear Index” (VIX)?

 

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By now we all know Bio Tech and Social media darlings have been hit hard of late, which could be masking that the broad market is NOT! So far the S&P 500 is off less than 4% from 200-year highs. Is that much reason to be fearful?

Speaking of fear, the VIX index remains inside of a two-year falling channel and a breakout has not taken place. Once a breakout in the fear index took place at (1) above back in 2007, that was when the market became really weak.

At this time the VIX index remains calm, inside of its falling channel and well below line (2). When should a person start biting their nails? If the VIX breaks above its sideways channel and breaks above (2). 

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