WEEKLY MARKET DIGEST: CHINESE SELL GOLD AGAIN, SILVER FINALLY CRACKS, AUSSIE DOLLAR AND COPPER AT SIX YEAR LOW $AAPL $MSFT $WMT $AMZN $UTX $GLD $SLV $USO $TBT

 WEEKLY MARKET DIGEST: CHINESE SELL GOLD AGAIN, SILVER FINALLY CRACKS, AUSSIE DOLLAR AND COPPER AT SIX YEAR LOW  $AAPL $MSFT $WMT $AMZN $UTX $GLD $SLV $USO $DIA $SPY $QQQ $TBF $TBT

(The Weekly Digest reproduces the morning capsules made available every morning before the market open in the Real Time Feeds to the paying subscribers. ) 

CHINESE SELL GOLD AGAIN, SILVER FINALLY CRACKS, AUSSIE DOLLAR AND COPPER AT SIX YEAR LOW

Last night Chinese sold gold aggressively.

Relative to its beta, silver has been holding remarkably well but Chinese finally cracked it lower with their selling.

The preliminary China Caixin PMI fell to 48.2 vs. consensus of 49.7.  This was a big surprise to the market.  Australian economy relies on exports to China.  China is a big user of copper.  Australian dollar dropped as low as $0.7292, a six year low.  Copper also fell as low as $2.35, also a six year low.

The U. S. stock market is celebrating Amazon (AMZN) becoming bigger than Wal-Mart (WMT) in terms of market capitalization after AMZN reported a surprise profit.

Oil hit $48.25 yesterday afternoon.  Since then it is experiencing mini short squeezes.

Interest rates continue to fall.

Our very, very short-term early stock market indicator is neutral but can quickly swing to either side.

Gold futures are at $1081, silver futures are at $14.43, and oil futures are $48.75.

S&P 500 resistance levels are 2111, 2132, and 2150; support levels are 2063, 2038, and 2017.

DJIA futures are down 27 points.

BUSIEST EARNINGS DAY

Today is the busiest day of the earnings season.  For a change, earnings reported after the close yesterday and so far this morning are better than expected.

Initial Unemployment Claims came at 255K vs. 279K consensus, employment picture continues to get better.  This is a leading indicator with heavy weight in our models.

Gold bulls try to rally gold hard and were helped with the pullback in the dollar.  However, so far, the rally appears to be failing.

Oil has decisively broken the major support at $50.

Interest rates are hanging near lows.

Our very, very short-term early stock market indicator neutral.

Gold futures are at $1094, silver futures are at $14.74, and oil futures are $49.33.

S&P 500 resistance levels are 2132, 2150, and 2200; support levels are 2063, 2038, and 2017.

DJIA futures are down 13 points.

MORE EARNINGS DISAPPOINTMENTS, SELLING IN GOLD CONTINUES

Investors have been running up stocks in anticipation of good earnings.  However the reality so far, with the exception of bank stocks, has been different.  Two notable worse than expected earnings are from Apple (AAPL) and Microsoft (MSFT).

Selling in gold continues.  Just before 8:00 am ET gold fell to $1086 before recovering.

Interest rates are falling again.

Oil is range bound.

Our very, very short-term early stock market indicator is negative.

Gold futures are at $1090, silver futures are at $14.71, and oil futures are $50.20.

S&P 500 resistance levels are 2111, 2132, and 2150; support levels are 2063, 2038, and 2017.

DJIA futures are down 65 points.

EARNINGS IN FULL SWING

This week is the busiest earnings week of the season.  In aggregate, so far, earnings are below expectations.  Market is anxiously waiting Apple earnings after the close.  The big disappointment this morning has been United Technologies  (UTX) earnings, a DJIA component; apparently China is buying less elevators.

Gold is trying to stabilize after yesterday’s mini crash.

Interest rates are ticking up.

Oil is range bound.

Our very, very short-term early stock market indicator is negative.

Gold futures are at $1102, silver futures are at $14.74, and oil futures are $50.62.

S&P 500 resistance levels are 2132, 2150, and 2200; support levels are 2111, 2100, and 2063.

DJIA futures are down 57 points.

MINI GOLD CRASH, MOMENTUM IN STOCKS CONTINUES

Last night, in a matter of seconds, gold fell to $1087.  It has made a partial recovery since then. This highlights the lack of liquidity in the gold market.

Positive momentum in stocks continues from last week.

Interest rates are hanging near their lows.

Oil is range bound.

Our very, very short-term early stock market indicator is positive but can reverse quickly as the market is very overbought.

Gold futures are at $1108, silver futures are at $14.71, and oil futures are $50.86.

S&P 500 resistance levels are 2132, 2150, and 2200; support levels are 2100, 2063, and 2038.

DJIA futures are up 38 points.

You are receiving less than 2% of the content from our paid services …TO RECEIVE REMAINING 98%, TAKE A FREE TRIAL TO PAID SERVICES.

Please click here to take advantage of a FREE  30 day trial.

Check out our enviable performance in both bull and bear markets.

FREE: SUBSCRIBE TO ‘GENERATE WEALTH’ NEWSLETTER

Related Posts

WEEKLY MARKET DIGEST: REDUCING CASH AND HEDGES TO MAKE MORE INVESTMENTS $DIA $GLD $QQQ $SLV $SPY $TBT $USO

Weekly Digest from The Arora Report is popular among serious investors and money managers because they have found studying insights ...

WEEKLY MARKET DIGEST: INTEREST RATES JUMP HURTING STOCKS AND GOLD, OIL BULLISH $DIA $GLD $QQQ $SLV $SPY $TBT $USO

Weekly Digest from The Arora Report is popular among serious investors and money managers because they have found studying insights ...

THIS BREAKOUT SAYS THE BULL MARKET IS NOT ABOUT TO END $IWM $RUT $QQQ $SPX $SPY

This bull market in U.S. stocks is aging. How much more life is left in it? That is the key question. ...

WEEKLY MARKET DIGEST: INFLATION LESS THAN EXPECTED, TRUMP DRUG PLAN, REDUCING CASH $DIA $GLD $QQQ $SLV $SPY $TBT $USO

Weekly Digest from The Arora Report is popular among serious investors and money managers because they have found studying insights ...

BULLS BREAK THE DOWNTREND, BUT WILL IT LAST? $SPY $QQQ $IWM $DJIA

The bulls have, for now, broken the downtrend in the U.S. stock market. The Dow Jones Industrial Average on Friday ...

WALMART DESERVES MORE LOVE FOR ITS FLIPKART WIN OVER AMAZON $WMT $AMZN $EBAY

For contrarian investors, there is an opportunity arising from the stock market loving Amazon on its loss and hating Walmart ...

DESPITE WHAT BUFFETT SAYS, THESE FIVE POINTS WILL GIVE YOU PAUSE ABOUT APPLE NOW $AAPL $AMZN $FB $IBM $GOOG $MSFT

Not only has Warren Buffett bought more Apple stock, he has been promoting the purchase with full force. Apple’s stock, ...

HOT OFF THE PRESS MODEL PORTFOLIO UPDATE: BOUGHT APPLE AT $18.71, FACEBOOK AT $49.92, AND MORE $AAPL $FB $BAC $AMAT

If you were getting ZYX Buy Change Alert Model Portfolio, look at what you would have done. Buying Apple (AAPL) at $18.71.  ...

WEEKLY MARKET DIGEST: POSITIVE SENTIMENT ON BUYOUT DEALS AND APPLE $AAPL $DIA $GLD $QQQ $SLV $SPY $TBT $USO

Weekly Digest from The Arora Report is popular among serious investors and money managers because they have found studying insights ...

PAY ATTENTION TO THE DEVELOPING PATTERN IN THE MOST POPULAR MARKET TIMING INDICATOR $SPY $QQQ $IWM $DJIA

The most popular timing indicator in the U.S. stock market is the 200-day moving average. The indicator derives its power not ...

EVIDENCE THAT APPLE’S STOCK IS FINALLY SET TO BREAK OUT? $AAPL $AMZN $TER $TSM

There is an astounding aspect to Apple that many investors haven’t focused on. Apple Inc. AAPL,  added 100 million subscribers to ...

HOW INVESTORS COULD GET AHEAD OF TRUMP SCRAPPING THE IRAN NUCLEAR DEAL $HAL $XLE $OIH $RDSB $MRO $CLR $XOP $USO $GLD $GDX $SLV

Prudent investors get ahead of major events. One such event will be President Trump’s decision to either stay in the nuclear ...

WEEKLY MARKET DIGEST: BIG SELLERS IN TECH STOCKS, ARORA PORTFOLIOS CORRECTLY POSITIONED $DIA $GLD $QQQ $SLV $SPY $TBT $USO

Weekly Digest from The Arora Report is popular among serious investors and money managers because they have found studying insights ...

HERE’S THE NO. 1 TECH STOCK IN MONEY FLOWS AFTER A FLOOD OF EARNINGS REPORTS $AMZN $MSFT $INTC $AMD $NFLX $AAPL $FB $ABAB $TSLA $GOOG $NVDA

Many popular U.S. technology stocks have reported quarterly earnings. Investors may want to know which tech stock is No. 1 among ...

THE BEST STRATEGY FOR THE OMINOUS STOCK PATTERN THAT JUST OCCURRED $CAT $MMM $FB $AAPL $AMZN $FB $NFLX $GOOG $SPY $IWM $QQQ

Tuesday’s ‘outside day’ started with optimism and ended with pessimism. An ominous pattern has occurred in the U.S. stock market. Investors ...

WEEKLY MARKET DIGEST: GOOD OUTLOOK FROM BEIGE BOOK UNNERVES THE MOMO CROWD ON STOCKS $DIA $GLD $QQQ $SLV $SPY $TBT $USO

Weekly Digest from The Arora Report is popular among serious investors and money managers because they have found studying insights ...

INVESTORS SHOULDN’T GET AHEAD OF THEMSELVES ON GENERAL ELECTRIC $GE $SPY

There is a good reason not to pay attention to General Electric earnings and analysts who cover the company. Because if ...

HERE’S THE GOOD NEWS BEING SENT BY THE FEAR INDEX $VXX $VIX $SPY $FB $AMZN $MU $AAPL $NFLX $IWM $QQQ $GOOG

Wall Street’s fear index is based on expectations of market volatility. Professionals use and trade this volatility in a variety ...

TAKE MORE PARTIAL PROFITS ON DROPBOX $DBX

This post was just published on ZYX Buy Change Alert.  DBX started out with 100% of full core  position size. So far profits ...

SIX GOOD REASONS FOR INVESTORS TO CONSIDER BUYING BANK STOCKS RIGHT NOW $BAC $JPM $C $WFC $AMZN $MU $FB $NFLX

Stock market volatility presents opportunities to buy stocks or ETFs on a dip in prices. Many investors have been focused on ...

Follow

Get every new post delivered to your Inbox

Join other followers