If new highs are the precursor to new highs, the Spiders, gold and silver, theoretically, at least, have more upside.
SPY
The markets may need a rest, however, when examining the Bollinger Bands. The candles have broken outside the top band and are dangerously over-extended. That said, silver has been pushing the upper limits of the band since February, and there's only been one minor retreat, back to the Bollinger Band's mid-point.
SILVER
Gold, too, is over-extended, but seems to have found some harmoney within the Bollinger Band's confines leading up to its latest run.
GOLD
Gold Miners
Silver Miners
The way the markets trade these days, it is not uncommon to see most things hit a top or bottom around the same time. And while the indices and precious metals could definitely use a breather, there are no guarantees that will happen any time soon.
The markets have been anything but kind to those in search of a top. Just think, though ..... with April over and done with, and Bollinger Bands being pierced, the "Trade 'til May then go away," crowd is right around the corner.
Always perform your own due diligence. These are only my opinions.
