SLV along with the PM stocks have been under performing gold in a pretty significant way. Normally you would like to see the PM stocks outperforming gold on the front end of a bull market similar to what we saw back in the beginning of the 2000 bull market in the PM complex. So far that hasn’t been the case.

Below is a weekly chart for SLV we’ve been following for a long time now as it has been chopping out the nearly four year diamond trading range. The first thing that would get my attention would be if the price action could takeout the top rail of the seven point diamond which is technically a reversal pattern at the moment. A touch of the bottom rail would complete the 8th reversal point which would be a consolidation pattern to the downside if the bottom rail is broken. It wouldn’t hurt to see SLV trade back above the 65 week ema if one is a bull.

http://silverseek.com/article/beauti...logy-slv-17200