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WEEKLY MARKET DIGEST: GOLD AND OIL UNABLE TO HOLD GAINS ON GEOPOLITICS, STOCKS PROVE RESILIENT $GLD $SLV $SPY $QQQ $DIA $TBT $TBF $USO

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WEEKLY MARKET DIGEST: GOLD AND OIL UNABLE TO HOLD GAINS ON GEOPOLITICS, STOCKS PROVE RESILIENT $GLD $SLV $SPY $QQQ $DIA $TBT $TBF $USO

(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 AND OIL UNABLE TO HOLD GAINS ON GEOPOLITICS

July 18, 2014

Gold and oil are unable to hold their gains from yesterday on  Malaysian jet crash in Ukraine and Israeli ground offensive in Gaza.  Stocks are attempting a rebound.Interest rates are hanging near their lows as investors seek safety of U.S. Treasuries.As a full  disclosure, ZYX Short  sold oil and gold short in yesterday’s strength and ZYX Buy had a couple of new buy calls into the weakness. It is the simple principle — buy low, sell high. As markets fluctuate, we will continue to take advantage of the volatility.Gold futures are at $1309, silver futures are at $20.95, and oil futures are $102.93.S&P 500 resistance levels are  1950, 1975  and 2000 ; support levels are 1925, 1900 and 1875 .DJIA futures are up 7 points.

BLAME U.S. SANCTIONS AGAINST RUSSIA FOR STOCKS SLUMPING AND OIL JUMPING
July 17, 2014
Yesterday President Obama announced new sanctions against Russian interests. European stocks are lower on the news. In pre market in the U.S., stocks are slumping  and oil is jumping. Gold is attempting a rally from oversold condition.Interest rates are falling on sanctions.Historically market moves related to Russia reverse quickly.Gold futures are at $1306, silver futures are at $20.88, and oil futures are $103S&P 500 resistance levels are 1975, 2000  and 2017 ; support levels are 1950, 1925 and 1900.DJIA futures are down  35 points.

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OIL BREAKS DOWN BELOW $100
July 15, 2014
The big development of the morning is that oil  has broken down under $100; so much for the gurus who have been proclaiming in recent days and weeks that oil will goto $150 in this move.As a full disclosure, ZYX Short Sell Change Alert is short on oil.Gold is trading range bound. Key levels to watch are break of $1305, 1300, 1287, and 1273.tocks are taking a breather after yesterday’s rally.Gold futures are at $1308, silver futures are at $20.98, and oil futures are $99.70.S&P 500 resistance levels are 1975, 2000 and 2017 ; support levels are 1950, 1925, and 1900 .

DJIA futures are up 25 points.

IN PRE MARKET STOCKS ROAR, GOLD FALLS OUT OF BED
July 14, 2014
In pre-market, stocks are acting very strong encouraged by rally in Asia and strong earnings by Citi (C).Oil has broken $101 to the downside.Gold has fallen out of bed. We told you last week,

Gold in dollar terms jumps on false logic.  Since there is a 10% duty to import gold in India, gold in rupee terms  in India should have risen by about 3%. Gold market in India responded rationally, Aug gold contract in India rose by about 3%.  However the corresponding rise in gold in international markets is based on false logic. Based on Indian duties, gold in international markets should trade 2-3% lower than in India.  Momo  crowd that is aggressively buying gold this morning has never been known for deep analysis.

Interest rates are range bound.

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Gold futures are at $1306, silver futures are at $20.98, and oil futures are $100.70.

S&P 500 resistance levels are 1975, 2000 and  2017; support levels are  1950,  1925 and 1900 .

DJIA futures are up 75 points.

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