Here are the updated charts for silver. The model continues to perform well, and suggests continued downward pressure on silver prices. A brief note to the gold and silver people that continue to post or e-mail me weird notions on how commodity markets run. I'm not sure why gold and silver are the only two markets that attract this behavior; I have some theories but they are better left unsaid. You may have noticed the blog is moderated, so you waste your time writing the post, and my time putting it in the spam bin. That is probably enough said for now.
If you have gotten this far, I'll make a note that market volatility is predicted to increase beginning this week in both short term and long-term models. You can download the long term model for VXX here.