#20200419

[fullcravings]

A delectable combination of creamy peanut butter, old fashioned rolled oats and bittersweet chocolate chips in a cookie with slightly crispy edge and a soft melt in your mouth center. 

PEANUT BUTTER OATMEAL CHOCOLATE CHIP COOKIES RECIPE

Congratulations Smalltownwoman.com for having the winning submission April 19, 2020!

[catswilleatyou]

mindbody(neither)

[um0707]

また寝てる！！！！！！

2020/04/19/12:17

[2020ablak]

2020. ápr. 19.

[beckenbauer1052]

前島亜美

[masakonaito]

[beckysioux]

Found an old creepy tree on our walk today. It would be perfect for a scary movie #20200419 #110of366daysof2020 (at Ray Lake Forest Preserve) https://www.instagram.com/p/B_LuiHln_Hj/?igshid=kl4ijlaez6sj

[eagleargent]

I don’t think I’ll be switching to doing wave counts on the silver futures market (due to the unpredictable price difference with SLV, which is an ETF), so just ignore all those cyan wave count markers -- I gave up halfway through.  That was mainly just to satisfy myself that the wave structure was not materially different from that of SLV, and it wasn’t.

However, I couldn’t help noticing the following rather interesting Fibonacci relations on the weekly chart above:

The lows in 2011 and 2012 were just a few cents past 61.8% of the way from the 2011 high of $49.82 to the recent low of $11.64.

The swing highs in October 2011 and October 2012 were 50 cents or less away from the 38.2% mark of that same long decline.

I’m looking at the price action from late 2018 to now as an expanding flat currently in its C wave.  One of the guidelines for flats is that wave B often runs for 100-138% the length of wave A.  Wave A was $13.86 (Nov. 2018) to $19.75 (Sep. 2019), and the 138.2% retrace of that is $11.61.  What was the March 2020 low?  $11.64.  Uncanny.

On what I expect is probably a less consequential note, the rally from that $11.64 bottom has come only three cents short of the 78.6% retrace of the drop from $17.615 (March 9).  I still don’t think this rally is a fourth wave of an impulse down, because it came only 10 cents short of overlapping what would have been wave one, which is way too close for me to consider it seriously (this is far closer than SLV came).  On the other hand, if what we’re witnessing is a bear nest, then we’re all in serious trouble and it’s going to be very hard to calculate targets with the price getting so low.  So I’m sticking to the flat interpretation until we see evidence otherwise.

If the flat interpretation is correct, then the C-wave rally we’re in right now should get near or preferably exceed the 9/4/2019 high, which for SLV was $18.35.  Obviously it’s still got a long way to go to get there, and the first step would be breaking out of the short-term downtrend we’ve been in for the past three trading days.