Silver Is White Hot! (Video)

Let’s look at an example of the power of Elliott waves.

Three months ago, silver bulls were few and far between. Naysayers cited “inflation fears” and “macroeconomic headwinds in China.” At the same time, our Short Term Update editor Stephen Hochberg spotted a completed Elliott wave pattern and posted this update and chart for subscribers:

“[Silver] declined to $21.91 today. The bullish triangle scenario remains intact…[If so]…silver should rally strongly above $26.17.”

The book Elliott Wave Principle: Key to Market Behavior tells us that:

“Elliott used the word ‘thrust’ in referring to this swift, short motive wave following the triangle. The thrust is usually an impulse wave.”

Here we are three months later, and silver just thrust to an 11-year high. On Friday, May 17, Steve posted this update for subscribers:

“When silver catches a bid, prices can shoot higher in a short period of time. This week’s percentage advance was the largest in nearly four years.”

The question is, what’s next? Silver is not the only market you need to keep an eye on right now.

If you want to keep your finger on the pulse of the moves in silver, gold, the main U.S. stock indexes, bonds, the U.S. dollar and more, consider subscribing to the Financial Forecast Service. And if you want to learn more about Elliott waves, go to ElliotWave.com/Club or click the links in this video’s description.