The weekly chart appears to have peaked after testing the key $40 resistance level over the past month. The downward move yesterday (accelerating today) follows on the heels of last week's 'hanging man' candlestick, a distinctly bearish 'event'. RSI and Stochs are also both rolling over from overbought territory now. Adding all of that to Silver Wheaten's negative divergence versus Silver yesterday suggests that short positions should be maintained for the moment...a new 52 week closing high would negate that view.