It's Make or Break for Silver’s Bullish Channel

Whilst silver’s bullish channel remains intact, bulls have so far failed to hold onto any gains above $28, which puts a pivotal level into focus for bulls and bears.

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We also take a look at the Euro STOXX 50 chart which closed to a record high on Friday. And, like silver, has its own pivotal level for bulls to defend and bears to try and conquer. We also take a broad look at the US dollar index and highlight why trend trading may not be favourable over the foreseeable future.


S&P 500: Market Internals


S&P 500: 4204.11 (0.08%), 28 May 2021

  • Real Estate (0.64%) was the strongest sector and Communication Services (-0.315%) was the weakest
  • 7 out of the 11 S&P 500 sectors closed higher
  • 4 out of the 11 sectors outperformed the S&P 500
  • 288 (57.03%) stocks advanced and 211 (41.78%) declined
  • 91.68% of stocks closed above their 200-day average
  • 76.24% of stocks closed above their 50-day average
  • 62.57% of stocks closed above their 20-day average

Outperformers:

  • + 5.43%   -  Salesforce.Com Inc  (CRM.N) 
  • + 5.18%   -  Ulta Beauty Inc  (ULTA.OQ) 
  • + 4.88%   -  NVIDIA Corp  (NVDA.OQ) 

Underperformers:

  • -8.94%   -  HP Inc  (HPQ.N) 
  • -4.84%   -  Gap Inc  (GPS.N) 
  • -2.61%   -  Dollar Tree Inc  (DLTR.OQ) 

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