Silver ETF Showing Significant Relative Strength (SLV)

Despite the fact that silver futures have fallen around 2.67% today to $25.395, the ETF that tracks silver prices is showing tremendous strength today in light of a giant sell off in nearly all risk assets. The iShares Silver Trust ETF

is trading near the flatline at $24.87. This suggests that longer term investors are quite bullish on silver prices and are using today's weakness to establish positions in the ETF. Keep a close eye on silver overnight and at the open tomorrow morning.