Is Silver Ready To Hit $50 - 1/29/2026: Will It Hit $130? - Previous Milestones In First Post

Not to mention filibusters.

Well, I don't want to get overly political here...

So I won't!

Forget about that noise for a moment for now let's look at and focus on the price action in Silver and the markets. We want to know where Silver is going.

Monday we saw the knee jerk reaction caused by the events that happened over the weekend. I told you about how that's mostly Short covering and reversing positions and then the Market realized it was the same old stuff as before and sold off again. The classic Pop and Fade.

I told you that if and when the market ever does get news that could potentially be actual good News for Silver and stocks that the knee jerk reaction would not be followed by a fade.

There's been more talk today of ending the war and ending tariffs and yada yada yada. Market sees that as good News that might actually be real this time. Wether it happens or not is another story.

So instead of that short covering turning into a fade It's triggering even more Short covering. Other trader's like myself will start to spot this, and other buyer's start to spot this, and see an opportunity to jump in and soon a squeeze starts to happen. So today instead of a fade we're seeing more up.

Could Silver go up for another day? Yes these things could typically last for about 3 days or more. It could turn into a rally. Could someone do something or say something completely crazy tomorrow and bring everything back down? Yes, this is the world we're living in ATM.

Are we still in a bubble? Yes. 40 Trillion debt? Yes. And all the other stuff. So nothing else has changed. We're still in trouble in the grand scheme of things. Let's see how long this little moment lasts.

There's a wall above at the 53 to 54 price level. It's technically called a wall but it's where all the carnage and damage happened last week. It's where the crater is, where the battle took place.

Let me back up. Remember when I said the candles will guide the way? And the Trifecta and forfecta? And perhaps an inflection occuring? Here's what all that meant. Just go back and read the riddle and it will make sense now.

That week we saw (on the chart candles) that the buyer's were trying to push the price up on Friday, Then Monday, then Tuesday (Trifecta) then again on Wednesday (forfecta or superfecta). With that much upward pressure usually there's a break in direction (are you looking for direction? Maybe this will be an inflection?)

Well we got the break on Thursday, unfortunately the break was to the downside. The selling pressure was too much and though the buyers were trying hard for 4 day's to get Silver back above $54, the dam literally broke on Thursday from all the selling pressure Silver kept falling. And it kept falling on Friday to $48.

I thought we would see a Black Monday if not for the manipulation over the weekend to turn things around on Monday we might surely have seen a continuation in selling.

So all that damage is done and is laying directly above our heads or Silver's head right now. And I don't know about you guy's but I doubt that this little bit of relief and euphoria about the midterm elections is going to be enough to push silver back above all that and above $54 again.

Well, the stock market is certainly going back down (waaaay back down) after yesterday's "irrational exuberance." I guess we'll see if silver follows suit, but I suspect you are right.

This is a perfect segue into what I've been meaning to bring up that's a real Deja Vu for me and that I think is similar to what we're seeing now.

Back in early 2021 you'll remember when we had the inflation from Covid. And then Fed chair J. Powell called it "transitory". He said they would start "tapering" (the first step to raising rates) if they needed to but they weren't planning on raising rates until 2023.

By mid summer to early fall that language started to change when reality set in and everyone realized, way too late, that inflation was sticky not transitory. Powell started talking more hawkish about inflation and raising rates.

By November he announced they would accelerate the tapering so he could raise rates in 2022, then he announced multiple rate hikes in 2022.

So you get the picture. This was really bad news for the market. Markets should go down right? And so what did the markets do? Well they went straight up of course and hit an all time high at the end of the year January 3rd 2022 lol.

Why do I remember this so clearly? Because I was trading and on that very day I said this is absolutely nuts. The markets should be crashing now. Powell said he's going to raise rates aggressively. I sold everything and got out.

The following week the Market's started going down. They fell for a month and a half. Like a dumpster on fire going down a flight of stairs. Of course I gloated on how perfectly I timed it. I thought the selling was over. It stopped briefly. I got back in. The selling continued. For another night month. Stopped briefly. Continued for another month. You get the picture. I got shellacked.

The selling stopped in October 2022, 10 months later, when the Bear market hit bottom. My coworker was retiring that year. He watched his 401k get decimated.

This is why I got out last month. I think this is coming again.