It’s the weekly Gold Rush!
The intermarket landscape provides favorable conditions for precious metals as the US dollar experiences an unabated decline.
Check it out… [Read more…]
Expert technical analysis of financial markets by JC Parets
by Ian Culley
It’s the weekly Gold Rush!
The intermarket landscape provides favorable conditions for precious metals as the US dollar experiences an unabated decline.
Check it out… [Read more…]
by David
From the Desk of Kimmy Sokoloff
I mentioned in this morning’s note that $SPY had a date with 400.
We hit that level and ran to 402.60, which was top of the Bollinger band.
by Ian Culley
From the Desk of Ian Culley @IanCulley
Gold is running into supply.
Whether the former 2011 highs still hold any psychological significance doesn’t matter.
Gold bulls continue to find an overwhelming amount of sellers at that level. This will remain the case until demand absorbs supply.
How long will that take? It’s anyone’s guess – maybe weeks, perhaps even months or quarters.
The point is, gold needs time.
Meanwhile, silver futures are coiling within a tight range… [Read more…]
The Bull has been rolling. Have you noticed? Judging by the response I got from an innocent little bullish tweet last week during the midst of a mild pullback for stocks, you’d think I’m insane for thinking stocks have a chance to go up.
So many angry people looking for lower prices.
Maybe they’ll be right someday? Chances aren’t zero.
Meanwhile, I’ll just keep paying attention to price and relative strength which is an excellent guide to point me into winning trades in any direction.
So for today’s trade, we’re going to ignore the digital assaults on our senses by the angry bears and get analog in our approach to riding this bullish wave.
by David
From the Desk of Kimmy Sokoloff
It looks like $SPY has a date with 400, as long as 392.75 holds.
That was a powerful day on Friday. The buyers stepped in.
by JC
It’s not a secret around here that Energy stocks have been doing well.
No one here cares that some investors got caught holding the bag in those growthy tech stocks, and didn’t have anywhere near enough energy exposure over the past couple of years.
It’s not my fault that the S&P500 was only 2% Energy but 26% Technology. [Read more…]
by JC
This is the weekly post that aggregates all the charts we put together throughout the week and organizes them all into one, easy to flip through deck.
by JC
After a very strong 4th quarter for stocks, it looks like 2023 is getting started right where they left off.
But this time, it’s the Nasdaq that’s leading the way.
So far this year, the Nasdaq100 is up every single week.
It’s largest components are driving the overall market higher. [Read more…]