Silver Update With a Michael Oliver Comment

“If you sell too soon, you're probably going to miss the boat.”

VBL

May 28, 2024

∙ Paid

Housekeeping: Good Morning.

“If you sell too soon, you're probably going to miss the boat.”

-Summarizing Michael Oliver’s latest

Today:

Premium: Silver
Commentary: Charts, News

Markets Yesterday:

US equity futures are in the green after Friday’s rally

Premium/Markets:

Silver’s Rally Monday
The Shanghai Connection
Michael Oliver’s Silver Comment

h/t Bai Xiaojun and the Daily Gold

Silver’s Rally Monday Macro Discretionary Enters the Chat

The Shanghai Connection- what it means

Banks are playing, CFTC data is only 1/2 the story, and a war of spoofing has commenced. ( it aint spoofing if you don’t get caught)

Silver:

SFE is over Comex- why it persists
SGE is over SFE- what it means
Comex: What to look for (spreads/ EFP)
Convergence how

Gold:

SFE is over Comex
SGE is under SFE- what it means
Comex- what to not look for
Convergence how

Focus: SILVER by Michael Oliver

If you panicked at each drop, including the genuine correction in January 2011, you’d likely have missed the massive acceleration portion of this multi-year bull trend (from 2001 to 2011): $20 to $50 in three quarters.

*MSA is monitoring for something meaningful in terms of correction, but it hasn’t developed, nor do we expect it to for a couple months.*

5% in one day, 8.5% drop in six days, 5% drop in three days, 15% drop in five days, 5% drop in three days, 9% drop in two days, 16% drop involving a month17.7% drop in two days, 8.7% drop in six days, 5.5% drop in two days

He goes on to define the onset of something worth calling a “correction” and much more at bottom.

Market News:

China's smartphone market saw a 2% growth in sales Q1. Sales of foldable phones +48% Y/Y. Huawei rose to the top spot for the first time in quarterly global shipments, surpassing Samsung, according to Counterpoint Research. China iPhone shipments jump 52% in April.

UBS Global Research raises 2024 year-end S&P500 target to 5600 (prev. target 5400, current 5304)

Geopolitics:

Israeli tanks have reached Rafah city centre, according to Reuters witnesses
"Israeli media: Leaders of Israeli opposition parties will discuss tomorrow the formation of an alternative government and the ouster of Netanyahu", according to Sky News Arabia.
China is conducting more military exercises, The West is now pushing back on the Isrealis strikes in Rafah as civilian tolls are rising.
Much More below2

Some headlines via NewSquawk or DataTrek