Stock and Precious Metal Charts At the End of Day - Silver Cup and Handle

Stocks were mixed today on weaker than expected home sales and some poor reports from finance and the tech sector.

The US dollar turned lower, and gold and silver 'popped' in a two step rally. Gold stands a little over 1250 and silver is hanging on to the 17 handle.

Today is the NY primary for President.

The Bucket Shop was relatively quiet yesterday with a few gold deliveries, and a bit of a build in the deliverable gold in the warehouses over the past week, back up over 550,000 ounces.

Silver is shining a bit, and on the weekly chart below has 'set' a cup and handle formation.  Now it must hold these gains and move higher.  If it can do this I would think silver will test that old support level around 19$ and try to fight its way back into the old trend channel.

In the chart on the right you can see the year to date performance of gold, silver, the SP 500 and NDX.  Silver is the leading asset.

Have a pleasant evening.