After testing $14.78 this morning, silver prices rolled over sharply and attacked $14.40. That level coincides with the cycle trendline dating back to September. Silver may try to bounce here.
Gold (December) is trading around $1227. Prices recently touched the short-term support line near $1226; we may see a bounce.
I think we can expect more wild swings heading into the elections. Short-term trading will probably remain difficult. Using volatility as a guide, I think the stock market may be approaching a tradable bottom.
-TVIX- I sometimes use TVIX as a timing tool to estimate lows in the stock market. Stocks tend to bottom when TVIX spikes above the 200-day MA. Prices siked above the 200-day last Friday, indicating we could be close to a low in stocks.
