My Trading Approach for the Divergences in Stocks
Looking at the stock performance of many well-known retail names one can see the old adage “a rising tide lifts all ships” doesn’t apply here.
Last week I wrote about a number of markets, and I would like to recap a bit as a number of trades are setting up nicely.
First, in silver, we got the expected corrective reaction off of the $32.50 level. A number of weak longs got squeezed out of their positions, driving the price of silver down to $30.03. I think that the market looks much healthier now, and it appears set to take out last weeks highs. Gold is following a similar pattern, albeit with less volatility. Overall, both look set to trade much higher over the coming weeks and months.
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