Gold Validating Surge To Record Highs
Following a long and tedious arm-wrestling decline, on October 9th GLD gapped up off lows struck a few days earlier on October 5th. It was the signal we’ve been waiting for leading us to write for the Hit and Run October 10th morning report. In the subsequent sessions we followed up with: Gold Knows on October […]
Continue Reading -->Coffee With Greta: PCE Inflation Cools
Register now for next week’s free pro trader Q&A on LinkedIn with Scott Redler on Fed Day! DJIA Futures: +7 (+0.02%) SPX Futures: +16 (+0.4%) NASDAQ Futures: +112 (+0.8%) Good morning friends! Futures are rising after the release of the Fed’s preferred inflation gauge. Let’s get right to it! PCE Inflation In-Line With Expectations The […]
Continue Reading -->An Eerie October for Stocks: Parallels You Need to See
October 24, 1929 is referred to as Black Thursday. The DJIA was down 11% before rebounding to close down around 3%. I suspect most market players who had participated in the Roaring Twenties Bull Run suspected October 24, 1929 was a Selling Climax. It wasn’t. History remembers October 29, 1929 as Black Tuesday when the […]
Continue Reading -->Coffee With Greta: Meta Drags Down Tech
DJIA Futures: -27 (-0.1%) SPX Futures: -16 (-0.4%) NASDAQ Futures: -86 (-0.6%) Good morning friends! Futures are sliding as Meta’s ad-revenue warning drags on tech stocks. Let’s get right to it! Meta Slips On Ad Revenue Warning Meta Platforms (META) shares are down 3.7% ahead of the open despite crushing Q3 expectations. Here’s how the […]
Continue Reading -->Coffee With Greta: Mixed Big Tech Results
DJIA Futures: +67 (+0.2%) SPX Futures: -15 (-0.4%) NASDAQ Futures: -88 (-0.6%) Good morning friends! Futures are mixed as traders digest earnings from Microsoft and Alphabet. Let’s get right to it! Microsoft Pops On Earnings Microsoft (MSFT) shares are up 4.5% ahead of the open after beating fiscal Q1 expectations on the top and bottom […]
Continue Reading -->Can Gold Jump $100 in a Single Day?
GLD exploded from a low of 168 in early March running up to 181 in early May. Notice the double bottom in early March and the double top in early May. Markets like to test. When they don’t, it’s often strong evidence a powerful V Bottom is on the table. Such is the case here […]
Continue Reading -->Coffee With Greta: Awaiting Big Tech Earnings
DJIA Futures: +158 (+0.5%) SPX Futures: +24 (+0.6%) NASDAQ Futures: +82 (+0.6%) Good morning friends! Futures are rising as traders assess the latest batch of Q3 earnings and wait for big tech results. Let’s get right to it! Coca-Cola Tops Q3 Expectations, Hikes Outlook Coca-Cola (KO) shares are up 3% ahead of the open after […]
Continue Reading -->Coffee With Greta: Yields Surge
DJIA Futures: -133 (-0.4%) SPX Futures: -15 (-0.4%) NASDAQ Futures: -57 (-0.4%) Good morning friends! Futures are tumbling as the 10-year Treasury yield surges. Let’s get right to it! 10-Year Yield Pushes Back Above 5% The 10-year Treasury yield jumped above 5% again today. That yield is currently up 6 basis points at 4.98% after […]
Continue Reading -->The 100-Year Stock Market Flood
A 100-Year Flood “It’s on America’s tortured brow that Mickey Mouse has grown up a cow.” –Life On Mars? Bowie X Aurora “The first panacea for a mismanaged nation is inflation of the currency; the second is war. Both bring a temporary prosperity; both bring a permanent ruin. But both are the refuge of political […]
Continue Reading -->Blue Sky For Gold
Blue Sky For Gold Earlier this month we wrote an article, Is A Gargantuan Gold Run At Hand. The fuse was lit quickly. GLD triggered an avalanche of sell stops but then reversed knifing back up through the “break-point” A massive gap validated the Trap Door buy setup. It was immediately followed by a combo […]
Continue Reading -->