it seems to me that almost every one is watching the triangle formation in SLV. with a strong bullish case to be made on SLV from the recent extreme sentiment measures plus all the CB money printing and a very bearish case to be made technically (if SLV breaks down) with huge void of support below, i believe that the odds of a fake-out (aka- false break-out, bull-trap) or a fake-down (false break-down, bear-trap) is pretty high right now. in fact, it wouldn’t surprise me to see SLV break one way, say down, (sucking in the shorts), then sharply reverse back up and above the triangle (stopping the shorts out and sucking in the longs) and then back down again. regardless, i plan to pass on any SLV or mining stocks that break-out or break-down within the next couple of weeks. i will leave the SSRI and HL set-ups on for now since they were both rejected off their downtrend lines recently and have pulled back to well within their patterns (neither are close to triggering an entry right now). here’s the update SLV daily chart… really nothing new to report other than it’s about to pop on way or another soon.