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The S&P 500, NASDAQ 100, and Russell 2000 fell 10.5%, 13.8%, and 19.5%, respectively, from their recent all-time highs down to their March lows. Each index paused long enough and deep enough for a correction, with the Russell 2000 nearly reaching cyclical bear market territory (-20%).

At this point, there’s key price resistance on the S&P 500. Moving through it doesn’t necessarily mean we’re “in the clear.” However, failure to move through and then rolling back over increases the odds of another test of recent low price support. Check out the range I’m watching on the S&P 500:

Key price resistance, in my view, is at 5782 on the S&P 500. That was the gap support from early November and also the price support from mid-January. Now we’re trying to break above that resistance, while at the same time trying to hang onto now-rising 20-day EMA support.

As for support, the April and August lows in 2024 intersect beautifully with the March 2025 low. That’s something to keep an eye on if we begin to head lower again. The price support on the S&P 500 is now just above 5500, so a close beneath that level would be damaging – at least in the very near-term. I say that, because any new closing low would be accompanied by a higher PPO, a positive divergence. Many times, a reversing candle and a positive divergence will mark a significant bottom. So there’ll be plenty to watch over the next few days to few weeks.

I also want to show you how the S&P 500 is performing on a short-term chart vs. the NASDAQ 100, which is the more aggressive index:

It’s just a little thing, but the S&P 500 and NASDAQ 100 had been trading mostly in unison over the past week or two, but with this morning’s weakness, note that the NASDAQ 100 has moved back down to Monday’s opening gap higher, while the S&P 500 still remains well above it. Here’s one reason for it:

Since the Fed announcement one week ago, discretionary stocks (XLY) had reversed its downtrend vs. staples stocks (XLP). But check out today’s action! Maybe this is just short-term and we’ll see a reversal later, but it’s hard to be overly encouraged when staples goes up 1.14%, while discretionary drops 0.64%.

It’s a warning sign.

I know there are TONS of mixed signals out there and everyone wants to know whether this recovery is the REAL DEAL or if it was only temporary before the next shoe drops. Well, if you’re interested, I’ll be hosting a FREE event on Saturday.

Correction or Bear Market?

That’s the topic of our Saturday event, which will begin promptly at 10am ET. I will be providing multiple angles/charts/strategies and what each of them are telling us. If you’d like to join me on Saturday and would like more information, REGISTER NOW.

Even if you have a prior commitment on Saturday, we plan to record the event and send out the recording to all who register. So act now to attend and/or receive your copy of the recording.

Happy trading!

Tom

In this exclusive StockCharts video, Joe shares how to use multi-timeframe analysis — Monthly, Weekly, and Daily charts — to find the best stock market opportunities. See how Joe uses StockCharts tools to create confluence across timeframes and spot key levels. Joe then identifies strength in commodities, QQQ, and finishes up by reviewing symbol requests from viewers.

This video was originally published on March 26, 2025. Click this link to watch on Joe’s dedicated page.

Archived videos from Joe are available at this link. Send symbol requests to stocktalk@stockcharts.com; you can also submit a request in the comments section below the video on YouTube. Symbol Requests can be sent in throughout the week prior to the next show.

Gold at $3,100 and silver at $50? That might’ve sounded wild a year or two ago, but it’s now the upper trajectory some analysts are eyeing. With consumer confidence cratering to a 12-year low, inflation expectations rising, and central banks hoarding bullion like it’s the latest fashion, gold is holding firm above $3,000 per ounce and silver is knocking on $34.

There’s another thing to consider: the gold-to-silver ratio is still high, reaching 91:1 on Monday and 89.7 on Tuesday, hinting that silver may be massively undervalued. If the ratio snaps back to historical norms, silver could explode past $40, even $50, while gold edges toward $3,100 or higher.

FIGURE 1. CHART OF GOLD/SILVER RATIO. The historical average is at 65:1, well below the data on the chart. Any level above 87 signals a potential buying opportunity.

Note how the price of silver, namely its rallies highlighted in the shaded area below the chart, is responding to the ratio. I’m going to cover this in more detail below, as the ratio serves not only as guidance but also as an important component for an entry setup.

So, if analysts are targeting $3,100, where is gold now, and what setup might it present? Take a look at a daily chart.

FIGURE 2. DAILY CHART OF GOLD. Gold is pulling back, an ideal setup for those who are bullish on the yellow metal.

Gold has pulled back from its all-time high of $3,056, coinciding with an overbought reading in the Relative Strength Index (RSI). The Quadrant Lines give you a wide range of support levels for entry.

  • The second quadrant, containing the previous swing high at $2,960, may see some bulls jumping in.
  • Below that, the third and fourth quadrants coincide with the two previous swing lows near $2,890 and $2,840.

Staying within and bouncing from these quadrants could signal continued strength in the current swing. Below that level would indicate the end of the current uptrend, and whether the price reverses or falls into a range, you will likely find plenty of support at the two areas highlighted in magenta.

Next, take a look at a daily chart of silver.

FIGURE 3. DAILY CHART OF SILVER. According to the gold/silver ratio, silver may be poised for another leg up.

Take a look at the green circles highlighting where the gold/silver ratio exceeded 89. These are relatively high levels, considering that the average ratio reading is between 65 to 75 depending on the historical average you’re measuring. As soon as the ratio falls below that level, silver tends to rally. You see this twice in January, plus once in February and March; now that the ratio has risen above this level once again, will silver rally in response? That’s the big question, and one you should keep focused on.

The $40–$50 target range that many analysts are eyeing is still a distance away. The RSI, holding above the 50 line, suggests there’s room for more upside before hitting overbought territory.

If you’re bullish on silver, hoping for it to reach the projected levels above $40 and toward $50, here’s what you should focus on:

  • Silver would need to break above resistance levels at $34.25, the most recent swing high, and $34.75, which would see the grey metal enter its 12-year high territory, paving the way to $40 and above.
  • If silver pulls back, it should stay above (ideally) $32.75 and $31.75.
  • A close below $31.75, even if it finds support at the next swing low at $30.75, would signal weakness and likely invalidate the current uptrend.

What does this mean for investors using ETFs like SLV and GLD?

As a stock investor, you’re likely not seeking exposure to precious metals in the futures or spot market. The most commonly traded metals-backed options are the following ETFs:

  • SPDR Gold Shares (GLD), which you could learn more about in the StockCharts’ Symbol Summary; and
  • iShares Silver Trust (SLV), whose info is also available in the Symbol Summary.

The prices will differ as ETFs are structured differently. With that said, what do these price moves mean for the ETFs?

  • If gold climbs to $3,100 an ounce, GLD—designed to track 1/10th of an ounce—could be trading in the $310 to $330 range.
  • If silver makes a run at $50, SLV could surge right alongside it, potentially hitting $50 per share.

If you’re looking to ride the metals rally without holding physical bullion, these ETFs offer a direct and highly liquid way to gain exposure. And if silver’s historical catch-up to gold kicks in, SLV could potentially deliver the bigger upside.

At the Close

Gold and silver are both showing signs of strength, backed by macroeconomic pressure, historical ratios (at least for silver), and the overall technical context. Silver could be setting up for a catch-up move that might outperform gold in percentage terms. So, stay nimble, watch your levels, and remember that when silver moves, it often moves fast.


Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

For the first time in nearly 10 years, a Berkshire Hathaway employee claimed Warren Buffett’s $1 million grand prize for his company’s NCAA bracket contest.

An anonymous employee from aviation training company FlightSafety International, a subsidiary of Buffett’s Berkshire, won the annual internal bracket contest after correctly calling 31 of the 32 games in the first round of the men’s basketball tournament dubbed March Madness, according to a statement.

The 94-year-old Oracle of Omaha was finally able to give out the big prize after relaxing the rules multiple times since the competition’s inception in 2016. Originally, Buffett, a Creighton basketball fan, set out to award anyone who could perfectly predict the Sweet 16.

Then, in 2024, after the $1 million jackpot remained unclaimed, participants were given the advantage of waiving the results of the eight games among the No.1 and No. 2 seeds. Still, nobody cracked the code.

This year, the rules were changed again so anyone who picks the winners of at least 30 of the tournament’s 32 first-round games would be eligible to win the prize.

In fact, 12 Berkshire employees guessed 31 of the 32 first-round games correctly. The $1 million prize went to the person from that group that picked 29 games consecutively before a loss. That winner went on to pick 44 of the 45 games correctly.

The other 11 contestants are getting $100,000 each.

This post appeared first on NBC NEWS

Fintech lender Affirm said Tuesday that it’s reached an agreement with JPMorgan Chase to offer its buy now, pay later loan services to merchants on the bank’s payments network.

U.S. merchants who use JPMorgan to handle payments can soon add Affirm to their checkout pages, according to a release. Consumers will have access to loans ranging from 30 days to 60 months, according to Affirm.

The deal follows a similar announcement from rival Klarna last month, in which the Swedish fintech said it would be available to JPMorgan’s merchants. Affirm and Klarna are increasingly going head-to-head as the buy now, pay later field matures in the U.S.; Affirm is publicly traded and seeking to steadily grow profits, while Klarna recently filed for a U.S. IPO.

“The demand for diverse payment options, flexibility, and seamless transactions from both merchants and their customers is at an all-time high,” Michael Lozanoff, global head of merchant services at J.P. Morgan Payments, said in the release.

“By incorporating Affirm as a payment method into our Commerce Platform, we are empowering businesses to deliver the services they need and the experiences that customers increasingly expect as part of their retail journey,” he said.

Affirm said the deal was an expansion of existing banking and processing relationships with JPMorgan, the largest U.S. bank by assets. It wasn’t immediately clear when the new option would be available to merchants.

This post appeared first on NBC NEWS

Canadian Prime Minister Mark Carney said Canada must “look out for (itself)” as the fallout over top US officials sharing military operation details inside a popular messaging app reverberates among key intelligence allies and partners.

“It’s a serious, serious issue and all lessons must be taken from any of those, including in this circumstance,” Carney told reporters on a campaign trail stop in Halifax, Nova Scotia Tuesday ahead of the country’s April 28 election.

Canada has long been one of the US’s closest allies, though the relationship has deteriorated in recent months since President Donald Trump threatened to enact sweeping tariffs on Canadian goods and annex the country as the “51st state.”

“We have a very strong intelligence partnership with the Americans through Five Eyes,” Carney said, referring to the intelligence-sharing alliance between Canada, the US, the United Kingdom, Australia and New Zealand.

“Mistakes do happen, but what’s important is how people react to those mistakes and how they tighten them up,” Carney said.

Carney said the likely leak of sensitive military plans by senior US officials means Canadians must “look out for ourselves.”

“My responsibility is to plan for the worst, is to think about the most difficult evolution of the new threat environment, what it means for Canada and how do we best protect Canada,” Carney said. “Part of that response is to be more and more Canadian in our defense capabilities, more and more Canadian in our decisions, to take greater ownership.”

Other Five Eyes allies have been tighter lipped about the apparent intelligence leak.

A spokesperson for British Prime Minister Keir Starmer insisted nothing was awry in the UK-US relationship.

“We have a very close relationship with the US on matters of security, defense and intelligence,” spokesman Dave Pares told the Associated Press. “They are our closest ally when it comes to these matters, have been for many years and will be for many years to come.”

France’s foreign ministry said “the United States is our ally, and France intends to continue its cooperation with Washington, as well as with all its allies and European partners, in order to address current challenges — particularly in the area of European security,” according to the AP.

“Australia and the United States engage regularly on implementation of mutually recognised standards for the protection of classified material,” they said in a statement.

A spokesperson for New Zealand Prime Minister Christopher Luxon declined to comment.

This post appeared first on cnn.com

The two most important things in Jerce Reyes’s life, according to those who know him best, are family and soccer.

The former professional soccer player’s tattoos are a testament to those passions: of a soccer ball and other symbols on his left arm, as well as the names of his two daughters, which were all inked by his friend Victor Mengual.

Little did this Venezuelan player know that some of those drawings would, years later, lead to him being placed in Immigration and Customs Enforcement (ICE) custody in the United States in September.

This month, the 35-year-old was among the hundreds of Venezuelan deportees transferred to El Salvador’s most notorious prison after US President Donald Trump invoked an 18th century law to deport hundreds of undocumented migrants to the Central American country.

Part of the reasoning for Reyes’s deportation, US authorities argue, lies on his arms, which they say is evidence of his membership to an infamous Venezuelan gang, Tren de Aragua.

But Mengual, who works as a tattoo artist in Venezuela and tattooed Reyes twice in 2018 and 2023, says this is all a misunderstanding.

Below the crown, Mengual had tattooed the word “Dios,” which means God in Spanish and is also the nickname of the late Argentinian soccer star Diego Armando Maradona.

Other tattoos Mengual drew on Reyes are the names of his daughters, Isabela and Carla Antonella, a map of Venezuela, a star, and a goalkeeper, his position on the pitch, he said.

US authorities have linked certain tattoos to the criminal group. Guidance on Tren de Aragua from the Texas Department of Public Safety states that tattoos of crowns, roses or stars are all widely used by the gang members, while two of its mottos include the words Real and Dios.

“It’s so unjust!” Mengual despaired. “I’ve read in the news that Tren de Aragua uses crowns or roses, but, so what? I don’t understand why an innocent man has to pay for it?”

‘This is not true’

In southern Mexico, Reyes’s partner denies the accusations against him.

The deportee’s lawyer Tobin said Reyes left the Venezuelan city of Machiques last March following political unrest. He arrived in Mexico and registered on the CBP One app, a Biden-era mechanism for migrants to legally enter the US.

Records show Reyes entered the US on September 1 for an appointment with migration authorities but was immediately detained, accused of being a gangster, and placed in ICE custody.

She also showed reels of Reyes’s performances as a soccer player in Venezuela’s First and Second Divisions.

In December, Reyes and Tobin applied for asylum and withholding of removal and he was granted a hearing to present his case based on the political situation in Venezuela. A few months later, Trump was inaugurated and quickly launched an immigration crackdown.

According to his lawyer, Reyes is still due to appear in front of an immigration judge in San Diego on April 17.

On March 16, Araujo started scrolling through videos shared on social media by the Salvadorean presidency showing the deportees’ arrivals at the Counter-Terrorism Confinement Center (CECOT), a maximum-security prison designed to hold El Salvador’s gangsters.

Amid clips showing deportees frog-marched in white uniforms towards their cell, Araujo was able to spot someone resembling her partner.

The following day Tobin got confirmation that Reyes had indeed been deported. His name later appeared in a list of deportees first published by CBS News, as claims of innocence from the families of the deportees began to sprout across the media.

“He’s innocent, and it’s not only the family who says it, everyone who knows Jerce knows this is not true,” Araujo claims.

A community calls for his release

In Reyes’ hometown Machiques, a small, rural city close to the border with Colombia, his old club Perijaneros FC is starting a campaign to demanding his release.

In footage shared on Instagram and TikTok, children from the soccer school recite a prayer for their former coach, who left town like so many others looking for a better future abroad.

In the last decade, more than eight million Venezuelans have fled economic crisis and political repression under President Nicolas Maduro, who criticized the US and El Salvador for “kidnapping” his fellow citizens last week.

When the news broke that he had been deported to El Salvador, the community was shocked, he said.

“I don’t understand, how can you take a person and put it in a cell without a thorough investigation? How could they not look into this before condemning a person?”

This post appeared first on cnn.com

A light earthquake rattled Beijing overnight, waking residents and sending students rushing from their dorms as videos of shaking living rooms went viral on Chinese social media on Wednesday.

The 4.5-magnitude quake struck a suburb of the nearby port city of Tianjin at 01:21 a.m. local time at a depth of 10 kilometers (6.2 miles), according to the United States Geological Survey (USGS).

The China Earthquake Networks Center measured the quake at a magnitude of 4.2 and a depth of 20 kilometers (12.4 miles), placing the epicenter in Yongqing county in neighboring Hebei province.

The epicenter was only 13 kilometers from Beijing at the closest point, the Beijing Earthquake Agency said, with tremors felt strongly in some areas of the Chinese capital.

“It did not cause any structural damage to buildings in the city and will not impact the normal functioning of daily life or production,” the agency said in an statement. The quake would not influence seismic activity in the city, it added.

Beijing, a metropolis of 22 million people, has periodically been affected by tremors from earthquakes nearby. The Beijing plain is a seismically active area and home to more than a dozen seismic fault lines, including one that runs from the city’s Shunyi district in the northeast through downtown.

But for many residents, tremors strong enough to wake them in the middle of the night were a novel experience.

The quake was among the top trending topics on Chinese social media platforms on Wednesday, with many Beijingers posting videos of swaying ceiling lights and sharing their experiences of waking up to their bedrooms quivering.

“I made a quick judgment and decided not to run – because I didn’t feel any tremors, and my phone showed that both the magnitude of the epicenter and the level expected to reach Beijing were low,” she said.

Chirimiri Li, a university student in the capital, took no chances after being woken by a loud ring on her roommate’s cellphone. She said she initially thought the alarm was set for the wrong time and was about to ask her roommate to turn it off.

“That’s when I realized the slight shaking I had felt earlier wasn’t from staying up too late – it was actually an earthquake,” Li said.

“I immediately woke up the rest of our dorm and told everyone there was an earthquake. When we opened the door, we saw people already running outside, so we figured it’s better to be safe than sorry and ran out too. By then, the shaking had already stopped.”

The students stayed in an open area for about half an hour before the crowd gradually started to head back.

“I was a bit scared when I first told everyone about the earthquake, but once we all decided to run out together, we calmed down,” Li said, adding that the only other quake she remembered in Beijing was back when she was in kindergarten.

On Chinese social media, some noted that most users who shared their experiences of running outside were students.

“Nothing happened in my residential complex,” one comment said.

“Office workers have already become lazy and numb — wearing eye masks and earplugs to sleep, completely unaware of anything going on,” said another.

A 4.5-magnitude quake struck Yangliuqing, a suburb of the port city of Tianjin at 01:21 a.m. local time Wednesday, according to the United States Geological Survey (USGS).
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South Korea’s government fabricated birth records, falsely reported children had been abandoned and failed to properly conduct safety checks of prospective parents during its postwar frenzy of sending babies overseas for adoption, a long-awaited investigation reported on Wednesday.

Authorities say more than 200,000 South Korean children have been adopted overseas since the 1950s, when the impoverished country was rebuilding from the devastation of World War II and the Korean War – giving rise to a massive and lucrative adoption industry.

Many of those adopted children, now adults scattered across the globe and trying to trace their origins, have accused agencies of coercion and deception, including in some cases forcibly removing them from their mothers.

On Wednesday, the government’s Truth and Reconciliation Commission released its findings on the first 100 cases analyzed out of 367 total petitions filed by adoptees sent overseas between 1964 and 1999.

The adoptees hail from 11 different countries – and many believed their adoptions could have been the result of corruption and malpractice, suspicions that have swirled among the Korean adoptee community for years.

Of those first 100 cases, 56 were identified as “victims” of the government’s negligence, which amounted to a violation of their rights under the Korean constitution and international convention, the commission found.

Part of the problem was that adoptions were almost entirely run by private agencies relying on donations, without government oversight, said Commissioner Lee Sang-hoon at a news conference announcing the findings on Wednesday.

“When adoption agencies depend on donations from adoptive parents, they are pressured to continue sending children abroad to sustain their operations. This structure increases the risk of illegal adoptions,” Lee said.

The commission found evidence of fabricated records, including “deliberate identity substitution” and false reports that the children being adopted had been abandoned by their birth parents. Often there was lack of proper parental consent for adoption, the commission said.

The adoption process was also riddled with problems – including inadequate screening of adoptive parents, neglect from guardians caring for the children, and cases where foreign adoptive parents were pressured to pay to be given a child.

The report gave one example of a woman who signed an adoption consent form the day after giving birth. An adoption agency then took custody of the child after conducting just one interview with the mother, without obtaining any documentation verifying her identity or proving the biological relationship.

The investigation of more than 300 cases began in 2022 and is due to end in May. The latest findings add to a growing list of evidence of deeply rooted, widespread malpractice and coercion in what the commission called a mass exportation of children to meet foreign demand.

It recommended that the government offer an official apology, conduct a comprehensive survey of adoptees’ citizenship status and come up with remedies for victims whose identities were falsified.

“It’s been a long wait for everybody,” said Han Boon-young, who grew up in Denmark and who was one of the 100 adoptees whose cases were heard by the commission. “And so now we do get a victory. It is a victory.”

However, she said she hadn’t been designated a “victim” because of insufficient documentation.

“If they say, we recognize that this is state violence, then how can they not recognize those who don’t have much information? Because that’s really at the core of our issues, that we don’t have information … it’s been falsified, it’s been altered,” she said on Wednesday after the report’s release.

“We’ve had no rights because we don’t have any documents in the first place… This is about human rights – it goes beyond individual cases.”

While adoptions continue today, the trend has been declining since the 2010s after South Korea amended its adoption laws in an effort to address systemic issues and reduce the number of children adopted overseas.

This post appeared first on cnn.com

US President Donald Trump told Newsmax he believes Russia wants to end its war with Ukraine, but that Moscow could be “dragging its feet.”

“I think that Russia wants to see an end to it, but it could be they’re dragging their feet. I’ve done it over the years,” the president told the right-wing cable channel in an interview that aired Tuesday night.

“I think Russia would like to see it end and I think Zelensky would like to see it end, at this point,” Trump said.

His comments came only hours after Russia said it would only implement a US-brokered deal to stop using force in the Black Sea once sanctions imposed on its banks and exports over of its invasion of Ukraine are lifted.

Following days of separate negotiations with Ukrainian and Russian officials in Saudi Arabia, the White House said the two sides had agreed “to ensure safe navigation, eliminate the use of force, and prevent the use of commercial vessels for military purposes in the Black Sea” while also agreeing to implement a previously announced pause on attacks against energy infrastructure.

While Ukraine’s President Volodymyr Zelensky confirmed in a news conference that Ukraine had agreed to stop using military force in the Black Sea, the Kremlin released its own statement on the talks, which included far-reaching conditions for signing up to the partial truce.

Those included lifting sanctions on its agricultural bank and other financial institutions and companies involved in exporting food and their re-connection to the US-controlled SWIFT international payments system.

On Tuesday afternoon, Trump told reporters that his administration was looking at Russia’s conditions. “We’re thinking about all of them right now. There are five or six conditions. We are looking at all of them,” the president said.

Ukrainian and US officials have said the deal to halt strikes in the Black Sea would be a potentially significant step forward, despite it falling short of the 30-day full ceasefire initially proposed by the White House.

This post appeared first on cnn.com