Dear Jim,
The "Recovery" continues apace.
Regards,
CIGA Pedro
April mass layoffs rise led by manufacturing
(Reuters) – The number of mass layoffs by U.S. employers rose in April led by manufacturers who shed workers even as the economy began to recover.
The Labor Department said the number of mass layoff events — defined as job cuts involving at least 50 people from a single employer — increased by 228 to 1,856 as employers shed 200,870 jobs on a seasonally adjusted basis.
ABC of Silver (&Gold)
CIGA Eric
A – The surge above the 1/20/10 gap on a sign of strength on 5/11 was a technical breakout.
B – The subsequent break below the 5/11 gap on a significant contraction in volume was a false breakdown that will be reversed in time.
C – The retest of the 5/5 gap on decreasing volume suggests that the downside force is waning.
Whatever cannot go down with force will reverse and attempt to go up with force. The reversal should come once the margin selling subsides in both gold and silver.
Silver ETF (SLV): 
