Silver doesn't close at 2:40pm It basically trades 23 hours a day with a break from 5:15pm to 6pm eastern time. The pit trading hours are from 8:25 am eastern to 1:25pm eastern. Although trading stops at 1:25pm in the pit electronic trading doesn’t stop until 5:15pm eastern. It starts up again at 6pm. Gold also had a spike at 2:40pm so don't think it was some plot by the algos on just silver. Lots of times in the PM markets you will get spikes up or down, could be running stops, etc. Sometimes it pays to fade the stops, sometimes not.   

This QQQ chart looks like a diamond top to me, a bearish reversal pattern. Any thoughts? 

https://stockcharts.com/h-sc/ui?s=QQQ&p=60&yr=0&mn=2&dy=0&id=p19515387874&a=292197578&r=1578334204519&cmd=print

Their online platform working fine for me, they always have long hold times for customer service  

Gold popped up $6 in a matter of minutes right after 8pm eastern time tonight. Any ideas why? 

Is there a chart of the SPY that shows exactly where the 3day SMA is so we can tell when its hit

Lets let Matt confirm exactly what day above this is. According to his various posts this is day 11 and there hasn't been a day 12 in market history. Of course with this crazy market never say never LOL. Hopefully Matt will chime in fairly soon so we can still have the opportunity to get into a inverse ETF before the market day closes.   

Matt has said the 11th day the SPX is  above the 3 SMA there is almost no drawdown based on many years of history. So should we wait until the close and hopefully the SPX is at HOD to try a put or inverse ETF or wait for the 12th day. 

Today is the 11th day the SPX is  above the 3 SMA. so would it be good to hedge now with a inverse ETF or wait until tomorrow?  

I'm a little confused because on Fri Dec 20 Matt said on the blog that yesterday meaning Thursday the 19th was 7 days above the 3 SMA,  That would mean Friday was the 8th day, yesterday the 9th day and  today could potentially be the 10th day. Is that a correct interpretation or was labeling Thursday Dec 19th the 7th day incorrect?   

I agree price is king, it's just that you have stated over the last couple months that market tops are usually not formed when there is a low level of bullish sentiment. I agree with that but then there is other data like some of the indicators you post and from the 2 articles I did that indicates most are very bullish so there seems to be sentiment data that contradicts itself. Maybe its a question of pick the data that correlates with your market view LOL   

It seems many people are actually quite bullish, I know Matt and Steve keep pointing out that not that many people are bullish but here are two reports that say just the opposite, one from Bank of America and the other from Mark Hulbert who is a renowned expert who has been tracking sentiment figures for many years.  It's confusing to me how experts can come to different conclusions looking at the same general data.  Although I would like to believe the market can keep soaring higher because few are bullish, when I see conclusions like the ones below it gives me pause. I guess Matt and Steve are looking at a particular data set and coming to one conclusion, and the below articles are looking at other data and drawing different conclusions.  

Here is a link to the article by Mark Hulbert as the whole article will take up too much space to copy here. One of his main points is that one of his sentiment indices is showing optimism that exceeds 97% of daily readings since 2000. That’s why contrarians, who bet against the consensus, are as bearish today as they were bullish a year ago. 

https://www.marketwatch.com/story/if-you-believe-stock-market-bulls-have-the-bears-locked-out-this-will-rattle-your-cage-2019-12-17?mod=mark-hulbert

You have to remember KL is no longer the low cost company it was before it announced they were buying Detour Gold which is a fairly high cost producer. So if the deal goes through KL will be another mid tier company with a industry average all in cost.  Considering that the marketplace will not give KL as high a multiple as it did before the buyout. Its still a good company and will follow the gold price but don't expect it to get back to its previous multiple or P/E/        

SPY not hard to borrow at all on Schwab or TDameritrade, must be a glitch somewhere 

Right after I posted that gold pop $10 but the gold stock still aren't really reacting to the upside, now gold is drop 10 and the gold stocks at the low of the day again

GDX collapsing along with other gold stocks while gold itself is up, seems strange 

Great newsletter but the audio keeps fading in and out

What does a profit factor of 1500 mean and is or has that ES system gone long tonight? Thanks 

Thanks Steve, works fine now 

Audio not playing on either of this weeks newsletters and as a test I tried to play older newsletters and no audio on them either. I have tried from 3 different computers so assume there is a server problem on Breakpoint's servers. 

Gold now $1,397 on COMEX as just spiked there, now back to $1,388. What in the world is going on? I was joking when I said maybe $1,400 at the NY open but almost made it there a few minutes ago.  This is typical of how perverse the markets are, to take a huge jump overnight when most aren't watching leaving shorts aghast in the morning.   The only thing that makes sense to me is a huge short squeeze, but the momentum behind it is really powerful to power through a 6 year resistance level like butter.