Sunday, July 26, 2020
New Wave of Economic Stimulus Lifts Gold Price / Commodities / Gold & Silver 2020
By: Arkadiusz_Sieron
European leaders stroke a historic deal that could be a game-changer and provide a support for the euro and gold against the U.S. dollar.Historic deal. Pivotal moment for Europe. On Monday, the EU leaders agreed on a massive economic stimulus plan, after a long and crotchety summit. If passed through the European Parliament and ratified by all EU states, the European Commission could borrow 750 billion euros to finance the recovery fund and distribute 390 billion in grants and 360 billion in loans across the countries most impacted by the Covid-19 pandemic.
That's breaking news and potentially a game-changer. The stimulus could, of course, help somewhat the European economies, supporting the recovery, but the key issue is that the summit’s outcome is an unprecedented act of European solidarity. Some analysts even see the agreement as the first step towards a true fiscal union. It’s still far from it, but the recovery fund marks a precedent for common debt financing at the EU level.
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Sunday, July 26, 2020
Stock Market Slow Grind Higher Above the Early June Stock Highs / Stock-Markets / Stock Markets 2020
By: Paul_Rejczak
The S&P 500 upswing extended gains, yet retreated before yesterday's closing bell. To a certain degree, the accompanying bullish signals lost their luster too. The air is getting thinner as stock prices cut into the late-Feb bearish gap. Has this been the turning point in the great bull run, or just a modest preview of more fierce battles to be fought?
I'm definitely leaning towards the latter possibility. Far from having thrown cold water on the bull run, it's a gentle test of the bulls' resolve. In today's analysis, I'll lay out quite a few good reasons why, and also discuss the signs pointing towards caution.
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Saturday, July 25, 2020
How High Will Silver Go? / Commodities / Gold & Silver 2020
By: MoneyMetals
The torrid rally in the silver market reached a major milestone this morning as prices hit $21/oz.
On Monday, the silver spot price tracked by Money Metals Exchange closed at $20.12 (the futures market price settled at $20.19).
That marks the first above-$20 close for silver since 2016.
The white-hot silver market is busting through some resistance levels that should clear the way for higher highs ahead. Silver prices traded up Tuesday morning to $21.21 oz.
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Saturday, July 25, 2020
If You Own Gold, Look Out Below / Commodities / Gold & Silver 2020
By: Avi_Gilburt
It has been quite some time since I have published an article on gold. Unfortunately, we have become so busy at Elliottwavetrader that I simply have not had the time to publish many public articles.
So, as we are approaching an inflection point, I thought it would be an appropriate time to publish a public article.
Now, I have to be honest. I am quite disappointed at what I am reading publicly about gold. Many are still trying to sell you on the fact that gold is a hedge against market volatility. They suggest that you need to own gold to protect your portfolio when the stock market tanks. Well, in many past articles, I have outlined that history simply does not support this perspective.
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Saturday, July 25, 2020
Crude Oil and Energy Sets Up Near Major Resistance – Breakdown Pending / Commodities / Energy Resources
By: Chris_Vermeulen
Our research team believes Crude Oil and Energy, in general, has stalled near major resistance and maybe setting up a big downside move as the COVID-19 virus continues to roil regional and global economies.
The recent news that the COVID-19 virus cases have skyrocketed suggests further economic shutdowns may push oil prices below $35 ppb over the next few weeks and months. Our researchers believe Oil has already set up a resistance level near $42 and will begin to move lower as concerns about the economic recovery transition through expectations related to oil demand going forward. We believe the renewed global economic demand for oil will present a very real possibility that oil could collapse below $35 ppb over the next 30 days.
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Saturday, July 25, 2020
FREE Access to Premium Market Forecasts by Elliott Wave International / Stock-Markets / Financial Markets 2020
By: EWI
Hi Reader,
You hear lots of opinions about the markets.
But who's right? Everyone has an angle.
Now, at $0 cost, you can hear from the world's largest independent forecasting company -- our friends and partners at Elliott Wave International.
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Saturday, July 25, 2020
The Promise of Silver as August Approaches: Accumulation and Conversation / Commodities / Gold & Silver 2020
By: The_Gold_Report
In this week's advisory, sector expert Michael Ballanger reviews the most recent market news, celebrates old-school communication techniques and offers strategies for investing in the dog days of summer.
As the month of July moves into its final ten-day stretch, I see NASDAQ records falling left and right as the drivers of fear that dominated in March are now "yesterday's news." Rising second waves of infection and death have been shunted aside in favor of a reborn optimism surrounding "vaccines" and "V-shaped data" and "added stimulus" and just about anything imaginable that can drive money into stocks.
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Friday, July 24, 2020
The Silver Bull Gateway is at Hand / Commodities / Gold & Silver 2020
By: Gary_Tanashian
We’ve been micro-managing silver lately in NFTRH and NFTRH+ updates and that is for a reason. The reason is that gold’s wild little bro has been rallying – in what is turning out to be 5 clear waves – since the March crash.
When that crash reversed, my view, and hence the NFTRH view was that it was likely to have been a horrifying shakeout of the silver bulls that due to its violence may well have sparked a bull market of some kind on the flush. We noted in real time that silver and precious metals mining stocks often make dramatic crash lows immediately preceding significant new rallies or bull markets. Silver was in an uptrend before the crash and that was a significant factor to a bullish view, post-crash.
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Friday, July 24, 2020
The Prospects of S&P 500 Above the Early June Highs / Stock-Markets / Stock Markets 2020
By: Paul_Rejczak
The announced S&P 500 upswing is underway, and the early June highs have been overcome on a closing basis. Will the regular trading's final hour sprint carry over into today's session? Are the bulls as strong as the one-sided result of Monday's trading suggests?
That's not a foregone conclusion, because we've seen quite a shift from Friday's sectoral dynamics. In today's analysis, I'll dive into the internals and lay out the case why the bulls still enjoy the benefit of the doubt, regardless of the persisting bearish sentiment and double top talk.
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Friday, July 24, 2020
How Silver Could Surpass Its All-Time High / Commodities / Gold & Silver 2020
By: Hubert_Moolman
Previously, I have shown how the Dow has actually outperformed silver and gold since the creation of the Federal Reserve in 1913.
Today, if silver had the same kind of performance as the Dow since around the creation of the Federal Reserve in 1913, then it would have topped out at $225.20 [(29568.6/78.78)*.6). Yet, it only topped out around $50 in 1980 and 2011.
In 1973 silver was in a similar type of position. The Dow had peaked at 1067.2 (in Jan 1973), which represented a X13.55 (1067.2/78.78) since 1913. If silver scored a similar performance, it would have had a peak of $8.128, yet its peak at that time (the beginning of 1973) was only around $2.56, which was achieved in 1968.
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Thursday, July 23, 2020
China Recovered in Q2. Will the Red Dragon Sink Gold? / Commodities / Gold & Silver 2020
By: Arkadiusz_Sieron
China’s economy grew 3.2 percent in Q2 2020. The expansion was above expectations, but it does not have to sink gold.Last week, China reported that its economy grew 3.2 percent year-on-year in the second quarter of this year, following a 6.8 percent contraction in the previous quarter, as the chart below shows. Importantly, the actual growth rate beat the market expectations of a 2.5 percent expansion. The number is of great importance also because China is the first major economy to report positive growth after the coronavirus pandemic and the Great Lockdown. So, the Chinese data bode well for the U.S. and other countries, where the epidemic started later.
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Thursday, July 23, 2020
UK Covid19 MOT 6 Month Extensions Still Working Late July 2020? / Personal_Finance / Motoring
By: HGR
Are UK covid-19 MOT auto extensions still working as of late July 2020? After all they are supposed to imminently end. Find out in this video of a Land Rover Discovery Sport that's due for an MOT on the 26th of July 2020. Has it been extended by 6 months or not?
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Thursday, July 23, 2020
How Did the Takeaway Apps Stocks Perform During the Lockdown? / Companies / Sector Analysis
By: Submissions
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Thursday, July 23, 2020
US Stock Market Stalls Near A Double Peak / Stock-Markets / Stock Markets 2020
By: Chris_Vermeulen
The US stock market stalled early this week as earnings started to hit. A number of news and other items are pending with earnings just starting to roll in. There have been some big numbers posted from JP Morgan and Goldman Sachs. Yet, the markets have reacted rather muted to these blowout revenues.
We believe this is a technical “Double Top” set up in the making. The NASDAQ has been much weaker than the S&P and the Dow Industrials. We believe the US stock market is reacting to the reality of earnings and forward guidance after the recent rally in price levels over the past 9+ weeks. If we are correct and this Double-Top pushes price levels lower, then this technical resistance level may become the price ceiling headed into Q3 and Q4 2020.
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Thursday, July 23, 2020
Parking at Lands End Car Park Cornwall - UK Holidays 2020 / Personal_Finance / Holidays
By: N_Walayat
Lockdown has ended and a mad rush is on to go on holiday in the UK. So if your holidaying in Cornwall or Devon then probably at the top of your must do list is a visit to Lands End, situated right on the very westerly tip of England. Here's what it's like to park at Lands End car park. though be warned it carries a hefty £6 parking charge which in my opinion can be avoided by parking on the road about 1 mile away.
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Thursday, July 23, 2020
Translating the Gold Index Signal into Gold Target / Commodities / Gold & Silver 2020
By: P_Radomski_CFA
Last week, we wrote that gold miners flashed an “extremely overbought” signal, which they had only flashed once in the past – almost right at the 2016 top. The Gold Miners Bullish Percent Index recently moved to the highest level that it could reach – 100.
The only other case when the index was at 100, was in mid-2016.
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Thursday, July 23, 2020
Weakness in commodity prices suggests a slowing economy / Commodities / Commodities Trading
By: Donald_W_Dony
As the world's economic engine starts to recover from the COVID-19 pandemic, the demand for certain key commodities are a good indicator of the rebound strength.
The S&P GSCI Commodity Index (Chart 1) is a collection of 24 commodities from all commodity sectors (energy products, industrial metals, agricultural products, livestock products and precious metals).
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Wednesday, July 22, 2020
This Stock Market Stinks - But Not Why You May Think / Stock-Markets / Stock Markets 2020
By: Avi_Gilburt
I have been on vacation this last week, and when I had some downtime and the family was asleep, one of the activities in which I engaged was to peruse the articles written over the last week on the market. (Yea, I know... call me a nerd if you like). And, during my reading, I came to the realization that there is certainly a lot of manure being flung around of late.
Ultimately, I am just shocked that there are so many perspectives being presented as support for a bearish or bullish position that make it so clear that the author is not burdened by the facts.
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Wednesday, July 22, 2020
Protracted G7 Economic Contraction – or Multiyear Global Depression / Economics / Coronavirus Depression
By: Dan_Steinbock
Global growth prospects are deteriorating. Instead of a V-shaped recovery in the 2nd quarter, advanced economies will face historical carnage and a prolonged contraction. But there’s still worse ahead.
Current estimates for major advanced economies remain too optimistic, due to the mismanagement of the COVID-19, belated responses and premature exits, which have now caused far-earlier-than-expected secondary virus waves. As a result, the hoped-for V-shaped recovery will not happen in the 2nd quarter.
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Wednesday, July 22, 2020
Gold and Oil: Be Aware of the "Spike" / Commodities / Gold & Silver 2020
By: EWI
"Hope and fear look different on a chart"
Recently in these pages, we noted that bull markets in stocks tend to end with "a subtly slowing ascent" rather than with a final "spike" higher, as many investors believe. Historical examples were provided.
It was also pointed out that, by contrast, commodities do tend to end major uptrends with a price spike.
The Wall Street classic book, Elliott Wave Principle: Key to Market Behavior, by Frost & Prechter explains why (keep in mind regarding the quote from the book that fifth waves are the final wave in the main trend of a financial market):