Gold was plunging as I wrote this report, edging below a key benchmark. This report shows the key levels to watch and likely outcome of a break should it occur.
Happy Thanksgiving! The market drifted higher along the intermediate uptrend line on Wednesday, keeping the trend intact, but it faces a key inflection point on Friday. This report tells where that is and what scenarios are likely depending on whether the market closes above or below it.
In this September 8, 2014 video for Radio Free Wall Street, I talked about why I thought the ECB programs would fail to boost its balance sheet or achieve its goals of boosting inflation or the European economy. I also about the central bank tag teams keep the markets afloat, about why jobs data doesn’t matter to the market trend, and finally what real time tax collections can tell us that lagged, manipulated economic data can’t. It’s all wrapped up in an eye opening 12 minutes that should make you say, Damn!” Or at least “Dang!”
This video was originally published for Radio Free Wall Street subscribers on September 8, 2014. To see the latest videos in real time, subscribe here. Go behind the paper curtain of Wall Street propaganda and get the facts.
See more videos from Lee Adler on The Wall Street Examiner Channel on Youtube.
Cycle screening measures are looking a little tired so I have revised my intermediate term tactical opinion.
The market got ready for the holiday with a minor consolidation as it pushed against resistance around 2075. If it clears that, it’s poised to be off to the races again. This report covers the likely targets, and key benchmarks that could signal a change.
The Fed has left the building but its partner central banks around the world have picked up the slack. They’ve started buying Treasuries again, and their counterparties, who include US primary dealers, are also still funneling cash into the US market. Here’s what this means for the US stock market outlook.
Professional Edition articles will not be posted on Wednesday November 26 or Thanksgiving Day. Have a great holiday! Postings will resume on Friday and over the weekend.
The trend is your friend, but maybe not when it extends to meet a secular downtrend. That’s what the Consumer Conference Board’s Consumer Confidence (aka the ConCon Con) Index showed today. It shocked Street conomists, whose consensus guesstimate was a reading of 96. Instead it came in at 87. I see little value in this…
Short term cycles in gold are opposed as gold battles key resistance. This report looks at the indicator and price parameters that would suggest more upside to come, or a return to the downside.