Silver ran up to the upper channel line, but still is only a 3 up on the 5-minute chart below.
The precious metals alternate sentiment gauge tops today, Monday, or Tuesday.
I was long 1% ZSL and later went long 1% DZZ. I sold .5% ZSL at 17.63.
In the stock market I see an abc up from yesterday's lows and we got a bearish signal from the critical M/A when DJI dipped below 12,227. This will not be neutralized until DJI exceeds 12,461. I1 has a double-top Monday and Tuesday with a slightly higher value Tuesday. However, the wave count does not look like new highs by Tuesday close. I'm marking abc on the DJI chart below, although this afternoon's declined has not overlapped a because it has on the SPX.
Of course, if DJI rallies from here to a high above the marked c wave then it will be a 5 up instead of a 3. This would be in line with I1 and would imply a correction and another 5 up.