It is interesting how the Dow overlapped the previous wave (i) and nearly closed this morning’s gap up, but the SPX and NDX kept the gap’s wide open. Typically when the morning’s gap stays open there is price movement in the same direction. I would expect the market to continue up to make another new high perhaps 2215 on SPX with negative divergence, but the Dow says it is getting toppy.

GDX and SLW went down to back test the breakout from the wedge this morning. Both clawed their way back to positive territory before pulling back slightly into the close. SLW closed green which is bullish and GDX closed with a bull flag on the 5-min chart. Both are bullish postures for tomorrow. I think dips are to be bought. Traders bought the dip today. We will see!

I have been watching the Dark Pool trading action for the last several months and I have to say that what the big money does is really interesting as far as what their trades say about market direction.

A few days ago I spotted a huge print on IAU over 5 million shares traded in one block trade at the $11.29 price. I am guessing it might have been dark pool short covering because it happened at the end of big opening gap down. Today IAU closed below the $11.29 price which means that gold is still in a bearish posture for tomorrow.

Do you see that big volume spiker on November 30? That was a dark pool print at $11.29, over 5 million shares traded in one block trade. It is a good level to watch for bearishness or bullishness.

Hi Everyone!

I am so excited to start my first blog post on the markets! I have been posting in private forums for about a year regarding my thoughts on the market and I thought maybe it is time to start sharing my thoughts with the whole world. I love trading the markets and doing technical analysis. I first started trading in 2007 at the height of the real estate market bubble and crashed right along with it. I have learned a lot along the way. I have traded on and off since then in between having two kids and went back to full-time trading at the end of 2015. This year I have done well trading the gold markets.

Silver is at a really critical point. Silver might have just ended its wave C bull market correction and may be on it’s way to starting the famous wave 3 up, which most people like to call the “middle” part of any stock’s advance.

Here is my Daily Chart of Silver:

If Silver can crack above $17.11, the odds favor the bottom is in.

Looking at the chart of PAAS also says the bottom is in. PAAS is my favorite silver mining stock right now.

Do you see how far above the neckline it is now? That’s very bullish. The wave count shows PAAS has already begun wave 3 up.