Whilst the Dow jumps over 1.5% today, once again the metals display their underlying weakness.
GLD, daily
SLV, daily
Indicators are warning of a renewed push lower, a push that could easily knock SLV below the big $30 level, and that indeed opens up a $4/5 cliff fall within a very short period of time.
If SLV breaks $30...its one to chase..with a short-stop at the $30 level.