Steve Penny – Technical Analysis for S&P 500, Bonds, US Dollar, Silver, Gold, and Mining Stocks

Shad Marquitz
September 2, 2022

Steve Penny, Publisher of The SilverChartist Report, joins us to share a number of key charts on the (SPX) weekly chart of S&P 500,  (TLT) monthly chart reflecting long-dated bonds, (DXY) US Dollar Index weekly, Silver monthly and weekly charts, (SILJ) Junior Silver Miners ETF weekly chart, and the Gold weekly and daily charts.  [all charts are posted below so you can follow along]


We intermix some macro fundamental discussion in around these various markets to get an overall take on where the drivers of each sector will come from, in relation to price movements, and some thoughts on trading psychology and strategy towards the end.



Click here to visit the SilverChartist website

    Sep 02, 2022 02:08 PM

    Another set of great charts from Steve Penny for investors to consider and follow along with as we discuss them.

    How are other technicians here viewing the S&P 500, Bonds, US Dollar, Silver, Gold, or PM mining stocks?

      Sep 02, 2022 02:34 PM

      Thanks to Ex and team for the guest interviews this week… and to the broader Ker family, thanks for your sharing of views and ideas!

        Sep 02, 2022 02:54 PM

        Much appreciated Canuckski. Yes agreed that there were some good interviews this week with guests, and some solid contributions here on the blog from various contributors. Ever Upward!

      Sep 02, 2022 02:57 PM

      Dollar Index may have topped. Will post tomorrow morning.

        Sep 03, 2022 03:43 AM

        The potential of a “double top” in the dollar chart that Steve mentioned is worth noting, but he did agree that if the dollar breaks any higher that the next major lateral price resistance is up around 120 as so many technicians are honed in on.

        The dollar rolling over to ease some of the pressure being exerted on the metals and commodities sector, but with Europe and Japan such a mess, I don’t see where the reversal in the Euro and Yen and Pound versus the Dollar are going to come from.

        I’ve asked about a half dozen guests during our interviews what would make the dollar roll over when the other currencies are tanking so much quicker and the other nations were in even more dire straits with regards to inflation and the economic output. So far, nobody has had a clear answer as to what would trigger the other currencies to start gaining on the greenback, other than someone (I believe it was Craig) mentioned that if the ECB and Bank of Japan and Bank of England were to surprise investors with more aggressive rate hikes, then that could be a potential catalyst for a reversal in trend.

    Sep 02, 2022 02:59 PM

    Copper finished the week one cent above its 200 week MA…

    Sep 02, 2022 02:01 PM
    Sep 02, 2022 02:44 PM

    Steve is a great guest…I appreciate his views…what is not to like…glta

    The TLT trade is something I will look into for sure…

      Sep 02, 2022 02:56 PM

      Agreed Larry. Steve is a fantastic guest, is a sharp technician, has good grasp of the fundamentals, and looks at the things from both a shorter-term trading perspective, and a longer term value investing point of view. Good stuff for sure, and we are thrilled that he comes on the show every few weeks to share his charts and TA with us here at the KE Report.