March 5, 2025
Mish's Daily
By Mish Schneider
Monday’s Daily talked about Biotechnology. I would continue to keep that on your list as today it made a move above price resistance.
Yesterday I wrote about Adobe ADBE which made a good move both on turnaround Tuesday and today.
I also wrote about Advanced Micro Devices AMD, which I would continue to watch as today’s trading range was inside yesterday’s trading day, or a pattern called an inside day.
What has made this market so fun is that we get to teach you about technical patterns to watch for as we know,
Price Rules the Narrative.
Today, I want to show you silver through its ETF rather than its futures prices.
Regardless of the sell off in oil prices, the metals are telling their own story.
And while the dollar sank, yields rose today.
The silver futures chart is a technical beauty. The price fell right to the major moving averages.
The bears came out to play.
But silver has had a run of selling rallies and buying dips since 2020.
Mistaking corrections as the end of the rally has been costly.
Not only are we patiently waiting to see if silver outperforms versus gold, but we are also patiently waiting for the trend to flip where strength in silver gets bought, hence the metal goes parabolic.
Note the chart shows SLV, the ETF clearing both the 50-DMA (blue) and January 6-month calendar range high (horizontal green) just 4 days ago.
The momentum, though, still shows a bearish divergence as the 50-DMA is below the 200-DMA and price shows the opposite.
Once and should the momentum change, that could be the day we see $35 an ounce and much higher.
Educational purposes only, not official trading advice.
For more detailed trading information about our blended models, tools, and trader education courses, contact Rob Quinn, our Chief Strategy Consultant, to learn more.
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Mish in the Media-Want to see more? All clips here
Outlook 2025, the PDF This will set you up on the right side of the market along with many picks
BNN Bloomberg Mish talks about the safest investments given current market conditions 03-05-25
Financial Sense with Jim Puplava Mish and Jim talk stagflation, and how to trade this market 02-28-25
Cabot Street Check Actionable and timely information with Mish and Chris Cabot 02-28-25
Business First AM How to hunt for low-risk stocks with one example 02-27-25
Coming Up:
March 10 Maggie Lake
March 13 Schwab Network, BFM Radio Singapore
March 19 CNA Asia
April 4 The Money Show in Dallas
Weekly: Business First AM
ETF Summary
(Pivotal means short-term bullish above that level and bearish below)
S&P 500 (SPY) Bounce off of support-but can SPY retake 590?
Russell 2000 (IWM) It would be healthy to see this pop over 214 and hold
Dow (DIA) 432 pivotal
Nasdaq (QQQ) Has to hold over 500
Regional banks (KRE) Weakness here as it now heads to test 57-58 support
Semiconductors (SMH) 220 support. 240 resistance
Transportation (IYT) 67-68 support
Biotechnology (IBB) 135 needs to hold 137 to clear
Retail (XRT) A move over 72 better
iShares 20+ Treasury Bonds (TLT) 90 support to hold
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