Silver Pulls Ahead 📈 The Daily Chart Report

By Patrick Dunuwila

September 22, 2025

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Today’s Summary

Monday, September 22, 2025

Indices: Russell 2000 +0.59% | Nasdaq +0.55% | S&P 500 +0.44% | Dow +0.14%

Sectors: 2 of the 11 sectors closed higher. Technology led, gaining +1.34%. Consumer Staples lagged, falling -1.79%.

Commodities: Crude Oil was flat at $62.34 per barrel. Gold rose +1.66% to an all-time high of 3,781 per oz.

Currencies: The US Dollar Index fell -0.35% to $97.30.

Crypto: Bitcoin is currently down -2.25% to $112,698. Ethereum is down -5.77% to $4,190.

Volatility: The Volatility Index rose +4.08% to 16.09.

Interest Rates: The US 10-year Treasury rose to 4.147%.

Here are the best charts, articles, and ideas shared on the web today!

Chart of the Day

The wait is over. After basing for over 3.5 years Silver has started the week with what appears to be a breakaway gap vs the S&P 500.

The chart is telling you rocks over stocks for the foreseeable future. $SLV $SPY pic.twitter.com/mhuJ9lST85
— Dan Marchese (@DChartLife) September 22, 2025

🏆 Today's Chart of the Day was shared by Dan Marchese (@DChartLife).

The Silver ETF ($SLV) closed above $40 for the first time since September 2011 today as the metal continues to gravitate toward all-time highs.
More importantly, Dan notes that Silver also broke out in relative terms today ($SPY/$SLV). The ratio gapped above a three-year resistance level, marking a breakaway gap, the most bullish type of breakout.
Silver is already outpacing equities by a wide margin this year, and today’s move sets the stage for further dominance in the months ahead. $SLV is up +57% YTD versus +14% for $SPY. It's even outshining Gold ($GLD), which is on track for its best year since inception, up +42% YTD.

The Takeaway: Silver is reaching multi-year highs in both absolute and relative terms. The ratio ($SLV/$SPY) kicked off the week with a breakaway gap as it punched through a well-defined resistance level, signaling continued leadership in the months ahead.

Quote of the Day

"Gold is the money of kings, silver is the money of gentlemen, barter is the money of peasants – but debt is the money of slaves."

- Norm Franz

Top Tweets

Broad-based all-time highs today.

But only one S&P 500 sector ETF notched a record today: Tech $XLK pic.twitter.com/oEUg0clk27
— Mike Zaccardi, CFA, CMT 🍖 (@MikeZaccardi) September 22, 2025

📊 Daily Recap –

Indices pushed higher early and held the momentum.$SPY & $QQQ hit new highs before fading slightly$IWM still playing catch-up.$DIA dancing around the pivot around the ~$463 pivot pic.twitter.com/SU4X9kTGSV
— Andrew Moss, CMT (@Andy__Moss) September 22, 2025

At +3.61% after 15 trading days, this is the best start to September for $SPX since 2013. Best start ever for $XLC (+6.45%) and since 2010 for $XLK (+7.7%): pic.twitter.com/NuG9iNmVjE
— Optuma (@Optuma) September 22, 2025

$QQQ never filled last Wednesday's gap. pic.twitter.com/W7MXzZUl3R
— Walter Deemer (@WalterDeemer) September 22, 2025

$SPX Small successful bullish patterns are just as important as the big ones.

Why? If they don't work, the larger versions won't have a chance to play out.

Another modest target was hit on Friday. 6,665.

Rinse and repeat. pic.twitter.com/PpVuRqY2uE
— Frank Cappelleri (@FrankCappelleri) September 22, 2025

Screening for quality has killed small cap investors.

The ratio of the lower-quality Russell 2000 to the S&P 600 Small Cap Index (screens for profitability) has never been more overbought on a weekly basis pic.twitter.com/9MM8qhbxnj
— Scott Brown, CMT (@scottcharts) September 22, 2025

How long do momentum regimes last? Longer than one might suspect. SPX is due for a breather, and could easily correct by 5-10%, but probably won’t peak until late-2026 or longer. pic.twitter.com/IkUXhTiF6l
— Mark Ungewitter (@mark_ungewitter) September 22, 2025

U.S. Dollar 14-Year Support hanging on by a thread 👀 pic.twitter.com/vOnPA8CAhq
— Barchart (@Barchart) September 21, 2025

Alt season put on hold until further notice. pic.twitter.com/SgrlUY04jJ
— Evan Medeiros (@evanmedeiros) September 22, 2025

$ETH $ETHEREUM

HELLO POLARITY LAW! pic.twitter.com/Ko9aKzB2OT
— conradseric, CMT, CAIA, CEFA (@conradseric) September 22, 2025

Got copper? $COPX $HG_F pic.twitter.com/c9CsXbhXNr
— Against All Odds Research (@JasonP138) September 22, 2025

Gold is up an incredible 40% in 2025, the best year since 1979.

It was up a record 133% that year though. pic.twitter.com/GNrfHvhXE2
— Ryan Detrick, CMT (@RyanDetrick) September 22, 2025

Runs to new highs in silver are about as frequent as the emergence of certain cicada species. $SLV pic.twitter.com/9nHGd920R1
— Bespoke (@bespokeinvest) September 22, 2025

You're all caught up now. Thanks for reading!

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Patrick Dunuwila

Editor, The Chart Report

Patrick Dunuwila is the Co-Founder and Editor of The Chart Report, a popular technical analysis newsletter read by thousands of investors worldwide every day. Patrick is a Chartered Market Technician (CMT) with over a decade of market experience. Prior to launching The Chart Report, he worked as a proprietary trader at Benchmarq Technologies in New York City. He's originally from Syracuse, NY, and currently resides in San Diego, CA.

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