Interesting that today saw the biggest volume day ever in the ZSL.
ZSL is the ultrashort, leveraged ETF on silver. It has gone from 50 to 20 in the past couple of months.
SLV, the silver ETF, experienced its second largest volume day ever today.
Charts are below.
In addition, there comes this news article describing a trader betting $1 million on some way out of the money puts for July expiration.
In my past experience, these types of volume anomalies have typically marked, at a minimum, a period of increased volatility where the general trend – in this case uptrend – begins to become much more volatile and treacherous to bulls and bears. I have also seen these types of volume anomalies indicate market tops. I have rarely seen these types of volume anomalies mark continuation patterns for an uptrend.
click on charts to enlarge
Silver Ultrashort ETF
SLV
