Spot Silver is closing in on its first of three potential launch pads for a run to new all time highs. It's too early to discern whether it takes off around current price levels, or, if one or two more dips are necessary. The high confidence bet is for a run to new highs, but from what price low that comes from is a toss-up. This Silver chart suggests a one in three chance its now, from the mid-$70's and two in three shot for a lower low is to be made at one of the remaining three UP arrows. You's pays your money, you's takes your chance...or something like that.
Spot Silver
In my paid service I posted one of the most important updates of recent memory, yesterday, May 16, 2026. It didn't mention Silver once. The sub-title for yesterday's Weekend Update is, "Reversal Pending," which tells you nothing about why its important. Tonight's stock future's will paint the picture I am looking for, bleeding into Monday's cash markets Open. If Silver starts running higher this coming week, you have to assume that the 2026 lows are in and new highs will be just a matter of days or weeks away. As for the stock market, it either is entering a historic downtrend, or will so after one more SpaceX related run to new highs. That in and of itself is worthy of its own Sunday discussion. It's coming...just not yet.
SLV Sep Calls
September expiration should give Spot Silver plenty of time to exceed the century mark and it's January 2026 high of $121. SLV topped out at $109.81, meaning a new high there before Sep expiration takes the SLV $100C up a minimum of 3X. It may need another leg down, to below $65, or worst case, to below $50, both of which would be opportunities to dollar cost average down, taking that minimum potential gain of 3X to 4X or even 5X or more. In any case, if Silver starts moving up with conviction, assume the low for this year, and the foreseeable years ahead, is IN.