(The Weekly Digest reproduces the morning capsules made available every morning before the market open in the Real Time Feeds to the paying subscribers. )
STOCKS STABILIZE, GOLD HOLDING THE RALLY
January 3, 2014
As expected, stocks sold off yesterday. This morning expect a rally attempt. A lot of new money is going to flow into the market early next week. how the new money is invested will be an important indicator.
Gold is trying to extend the rally.
After crossing $100 on the upside only a couple of days ago, oil is now down to $95.
Interest rates are rising.
Gold futures are at $1229, silver futures are at $20.09, and oil futures are $95.27.
S&P 500 resistance levels are 1837, 1850, and 1900; support levels are 1800, 1775, and 1766.
DJIA futures are up 26 points.
GOLD JUMPS, STOCKS FALL IN EARLY TRADING
January 2, 2014
In early trading, gold and silver are jumping. The reason is that the tax loss selling overhang has now lifted. Subscribers may recall that our rating on gold for the very short-term has been positive.
In early trading, stocks are falling. The reason is that investors who held off realizing gains for tax reasons last year are now taking gains.
Interest rates are slightly higher.
Oil is falling due to improving conditions in Libya.
Gold futures are at $1222, silver futures are at $20.13, and oil futures are $97.76.
S&P 500 resistance levels are 1850 and 1900 ; support levels are 1825, 1800, and 1775.
DJIA futures are down 38 points.
SANTA CLAUS RALLY CONTINUES, SILVER GETS SLAUGHTERED
December 31, 2013
In the pre-market trading, stocks are moving up strongly as a continuation of the Santa Claus rally.
Of note is that silver is getting slaughtered this morning.
Oil is falling and interest are lower to stable.
Gold futures are at $1186, silver futures are at $18.88, and oil futures are $98.35.
S&P 500 resistance levels are 1850 and 1900; support levels are 1837, 1825, and 1800.
DJIA futures are up 35 points.
WINDOW DRESSING IN LOW LIQUIDITY, HEAVY BUYING IN EUROPEAN BONDS
December 30, 2013
This morning we are seeing heavy buying in European bonds after successful auction of five-year Italian bonds; the bonds were sold at 2.71%, the lowest yield since October 2011.
Expect window dressing to exaggerate movements in some stocks especially due to low liquidity. If there are opportunities to take advantage of this window dressing with short-term trades, we will let you know.
Gold is pulling back closer to $1200 support.
Oil is falling below $100.
Gold futures are at $1204, silver futures are at $19.63, and oil futures are $99.83.
S&P 500 resistance levels are 1850 and 1900; support levels are 1825, 1800, and 1775.
DJIA futures are up 6 points.
