Chart of the Day - Friday, May 21st, 2021

Today’s Chart of the Day was shared by Greg Krupinski (@G_krupins). It's a chart of the Junior Silver Miners ETF, $SILJ, over the past three years. The top holdings in this ETF include Pan American Silver Corp. ($PAAS), Hecla Mining Company ($HL), and First Majestic Silver Corp. ($FR). Precious Metals are starting to look more attractive recently, as they've begun to outperform stocks and other assets. Greg points out that $SILJ just booked its highest weekly close in nearly five years. It tripled off the March 2020 low, before entering into a consolidation period for the majority of the past year. We're now breaking out of a 10-month base within an uptrend, suggesting price could move meaningfully higher in the coming weeks/months.