Silver Cratered 6.6%, Gold Slid — Crude the Only Real Winner Today
A broad red session with silver getting wrecked and 10Y yields pushing toward 5%. The scanner flagged nothing tradeable at my standards, but AEO and WLTH both moved hard.
Live tape — what this brief is about
Rough day to be long anything except crude and communications. Silver's 6.6% drop is the headline I'm still chewing on — that's a liquidation move, not a pullback.
On my radar
- WLTH $10.87 — up 14.9%, RVOL 3.7x, 149M float. Too big a float for my core day-trade playbook but worth watching for a continuation or fade setup tomorrow. Needs to hold $10.40 overnight or I'm not interested on the long side.
- CRMT $1.60 — RVOL 3.0x, 8.3M float. This one actually fits my size criteria. No catalyst flagged but momentum with a tight float is enough to put it on the sheet. $1.50 is the line — below that the move is done.
- AEO $14.57 — down 13.7%, RVOL 3.8x. Earnings-driven flush. If it gaps down again tomorrow and can't reclaim $14.80 in the first 15 minutes, I'll look at a short continuation.
Levels I care about
- SPX $7,500 is the next meaningful support — we're sitting 92 points above it and the tape doesn't feel healthy.
- Gold $4,300 is where I'd expect buyers to step in if this selloff extends; today's $4,364 close is warning territory.
- Silver $60 is the real danger zone — a 6.6% single-day drop after a run like we've had often precedes a retest of that level within the week.
- 10Y at 4.944% is the driver. If we crack 5.00%, risk assets get another leg down.
How I'm positioned
I graded today a C-minus. Crude ripping 7% while gold and silver got sold tells me this is a rotation into inflation-hedge commodities with an energy tilt — not a risk-on day. My bullion positions are underwater on the session but I'm not touching stops below $4,300 on gold. I sized down after the open when SPX couldn't bounce, so day-trade damage was minimal.
Scanner zeroed out on qualified setups by my criteria — WLTH and DBI had the numbers but float killed it for me. No trades today, and that's fine. Fear & Greed at 35 (Fear) with crypto somehow sitting at 69 (Greed) is a divergence I don't trust. Tomorrow I'm watching the 10Y yield at the open. Above 4.96% and I'm trimming index exposure. CRMT is the only small-cap I'm setting an alert on for a morning flag setup.
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