The market finally poked its head above major resistance (red line in the chart below) yesterday. We now need to wait to see if there is follow through today.
For certain stocks remain in an uptrend (blue line in the chart above). But without follow through on this breakout, we could easily see a retest of the blue trendline.
The more dramatic development concerns precious metals.
Silver in particular has begun to go vertical, erupting above resistance (red line in the chart below). THIS is where you need to be looking if you’re trying to see major gains fast.
On that note, we just published a Special Investment Report concerning FIVE contrarian investments you can use to make precious metals pay you as inflation rips through the financial system in the months ahead.
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Chief Market Strategist
Phoenix Capital Research