Thumbs up for a good post. Up into earnings, then down ? Down into earnings then acceptance of the poor numbers compared to this quarter last year , then up because of a better outlook for the company? I'm still short, taking a bit of reassurance that price broke down out of the triangle, but it seems to be reentering it. Need a good gap one way or the other to get something started besides sideways action. At least the downtrend line from this mornings high is still holding
I meant SLW volume in the last post, but both slw and slv had low volume. SLV closed red a penny and SLW up 1.73 % Crazy ! Silver futures already broke a minor support, worth keeping an eye on futures tonight, daily chart may go sub 50 % RSI
Volume lightest SLV has had in two weeks, distribution? Any body have a good accumulation / distribution indicator on their charting system that can give a report ?
Thanks Cowboy, I guess I have myself convinced that 25.98 was iii of I of 3 , 24.81 was iv of I of 3 and 26.36 was I of 3 , either way its down until the range is broken to the upside. 21.32 to 19.50 was a complex II, so the 25.98 to 24.81 could be a simple abc wave iv. RSI on daily silver chart continues to fall as well as the SLV chart. SLV last only up 3 cents
For a bullish flag or pennant, a break above resistance signals that the previous advance has resumed. For a bearish flag or pennant, a break below support signals that the previous decline has resumed.
Seems price has to break above 26.36 or below 25.09 to confirm direction. Three tries at 26.36 without going higher and seeing lower RSI suggest this up wave is over, it was a good one no doubt. $ 7.00 !! Hourly MACD below zero, money flow dropping off.
Bear is back home! Still thinking the Wave 4 can test 21.32 . . . 21.94 and 22.25 being possible targets , but the time frame has to be extended. Silver RSI continues to erode on the daily chart. EW count = A B I II i ii, the same as posted before, only difference is the wave ii went complex, Great trading Cowboy and the rest of you playing these swings, had to be out of town so glad I didn't try. Thinking of shorting the first retrace if price goes down in the morning.
On the road, with only freecharts , Still no higher high! What won't go higher often will go lower, Wave IIs can retrace 100%
A whopping 9.3 million Americans are still underwater 25% or more. And as interest rates rise, these people aren’t going to stick around to pay even more into their equity-draining homes. They’re likely to walk away.
Seven states have underwater percentages well above the national average. It’s no surprise that over 30% of homes are underwater in sand states like Nevada, Florida, and Arizona. But the Midwest is struggling too, with Illinois, Michigan, Missouri, and Ohio all having about the same percentage of mortgages underwater.
Certain cities have it even worse. Las Vegas, Orlando, Tampa, and Chicago each have negative equity percentages between 33% and 41%.
Despite this financial devastation, the 20-city Case-Shiller Housing Index for December is up 13.4% from a year ago. Since March 2012, the Index has risen 24%. That’s one of the scariest parts: though prices have improved considerably, homeowners are still way underwater.
For example, homes in Las Vegas now fetch 43% more than in March 2012. But 41% of mortgages there still remain deeply underwater (defined as 25% or more). It’s a similar story in Orlando, where prices have jumped 20% last year, but 36% of the area’s homes remain underwater—and Tampa, with 35% of underwater mortgages, despite home prices rising 25% since March 2012.
Yet even with this massive shadow inventory hanging over the market, builders are bullish on providing new housing. “What we hear from builders right now, they did not have enough communities to meet demand in 2013,” Zelman said. “They were caught by surprise by the surge in demand, so they didn’t have enough developed lots to open up new communities. This year they caught up, they’re very prepared, we’re going to have double-digit increases in new communities.”
Builders are never shy about providing supply.
Yes, a pennant , = EW 1 , 2 , I II of 3. An inside day = continuation pattern. Doji day = continuation pattern / indecision. Again a low volume day, but plus a penny. About the only thing I can see is a lower RSI on the Silver futures Daily , 55.11 vs 57.84 yesterday, If the EW count holds up III of 3 down Monday = possible gap or fast move down in price. Yes I'm biased down because of the EW count and the decreasing RSI. 23.13 / 23.57 / 22.82 - 22.64 about the same number set we have been looking at. Have a great weekend All.
Silver futures about flat with the price at 1600. RSI down a bit. SLW 22.25 don't seem possible within the time frame of Tuesday. Still like 22.63 / 22.82 area around that gap. Have a great day tomorrow. Maybe you can get db to post some TA!
A Green day , up 22 cents, as expected for a Wave 2 retrace. Volume the lowest of the last 5 days, the other 4 days were down volume. I think the i and ii of III are in place, but its a bit odd price didn't make support at 25.09 before the retrace. SLV up a nickel, about flat lined! Silver RSI still below 50% on the hourly and 5 hour, 57 % on the daily, bias down.
SLW Earnings Date
Earnings announcement* for SLW: Mar 20, 2014
Silver Wheaton Corp is expected* to report earnings on 03/20/2014. The report will be for the fiscal Quarter ending Dec 2013. According to Zacks Investment Research, based on 9 analysts' forecasts, the consensus EPS forecast for the quarter is $0.25. The reported EPS for the same quarter last year was $0.50
Perfect, low next week, run up to 27.25 by the 20th, was thinking the 21st because of the season change.
Last march SLW was about 32.00 with earnings of 50 cents per share.