SIL, Silver Stocks, ETF Review

 

From the early 2016 bottom, this silver stock related ETF, soared much higher than several of the gold stock ETFs. This also makes it a prime candidate for an Intermediate degree top in August of 2016.  A few days ago, SIL may have bottomed, and if this is the case, then at a minimum SIL would have to clear my wave 1 in Minor degree. 

We also have the waves of this zigzag alternate very well, as this set of 5 waves has so far made bigger physical waves than the early 2017 SIL bullish phase. 

This makes for good alternation and is a very common wave structure. Now SIL just has to make a bunch of slick moves, to help confirm what we are potentially seeing at this time. 

The Gold/Sil ratio this morning calculated out at just above 35:1.  This is not an extreme expensive ratio, as we would have to get closer to 20:1 when SIL becomes overbought again. I have been buying silver bullion for myself, as it works like a savings account very well. 

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