(The Weekly Digest reproduces the morning capsules made available every morning before the market open in the Real Time Feeds to the paying subscribers. )
GOLD FAILS TO HOLD $1300 AHEAD OF WEEKEND UKRAINE ELECTIONS
May 23, 2014
Ahead of weekend Ukraine election and rising violence, gold fails to hold $1300 key level. If gold does not close above $1300 before the long weekend, it will be a negative sign for gold.
The bizarre interest rate behavior continues; interest rates are falling again this morning while stocks are levitating.
There is a potential for short covering ahead of the long weekend pushing stocks higher.
Oil is mostly unchanged.
Gold futures are at $1293, silver futures are at $19.44, and oil futures are $104.09.
S&P 500 resistance levels are 1900 and 1925; support levels are 1875, 1850, and 1837.
DJIA futures are down 4 points.
COUP IN THAILAND AND INTENSE FIGHTING IN UKRAINE, GOLD RISES
May 22, 2014
In a coup, Thai military has grabbed power.
In Eastern Ukraine, intense fighting has broken out.
In Western China, an attack by separatists kills 31 people.
Gold is up on geopolitical turmoil.
Stocks in general are trading up on better than expected PMI in China.
Interest rates are range bound.
Oil is consolidating after a recent run.
Gold futures are at $1300, silver futures are at $19.64, and oil futures are $104.
S&P 500 resistance levels are 1900 and 1925; support levels are 1875, 1850, and 1837.
DJIA futures are up 11 points.
BULLS TRYING TO RALLY STOCKS
May 21, 2014
In early trading bulls are trying to rally stocks. Fairly aggressive buying is seen but not by Smart Money.
Interest rates are finally moving higher.
Oil is spiking over $103.
Gold is range bound.
Gold futures are at $1289, silver futures are at $19.35, and oil futures are $103.23.
S&P 500 resistance levels are 1900 and 1925; support levels are 1850, 1837, and 1825.
DJIA futures are up 63 points.
MARTIAL LAW IN THAILAND, GOLD GIVES UP ITS GAINS
May 20, 2014
Military in Thailand has declared martial law. Gold gives up its gains in the face of more geopolitical turmoil.
Stock markets across the world are mostly unchanged in light trading. Early trading shows that there is no conviction on bullish or bearish side. At times big moves occur in dull markets. We will be carefully watching as any major move from here will be a big tell.
Oil and interest rates are range bound.
Gold futures are at $1289, silver futures are at $19.27, and oil futures are $102.42.
S&P 500 resistance levels are 1900 and 1925; support levels are 1875, 1850, and 1837.
DJIA futures are down 16 points.
GOLD RUNNING UP ON TENSIONS BETWEEN VIETNAM AND CHINA
May 19, 2014
Gold is running up on tensions between Vietnam and China.
In all other markets, trading is quiet and not providing much new insight.
Gold futures are at $130119.56, silver futures are at $, and oil futures are $102.86.
S&P 500 resistance levels are 1875, 1900, and 1925; support levels are 1850, 1837, and 1825.
DJIA futures are down 37 points.
