(The Weekly Digest reproduces the morning capsules made available every morning before the market open in the Real Time Feeds to the paying subscribers. )
NERVOUSNESS FROM SWISS ACTION CONTINUES, MAJOR EVENTS AHEAD
Nervousness from Swiss action continues to cause high volatility. Stock futures have staged a major recovery from overnight lows but are still in the red.
Two major events are ahead — ECB decision on QE and Greek elections.
Volatility is an opportunity to buy at lower prices and sell at higher prices.
Interest rates are hovering near lows.
Oil is trying to stage a rally.
The momo crowd continues to aggressively buy gold and silver.
Our very, very short-term early stock market indicator is positive even though the market will start out in the red.
Gold futures are at $1267, silver futures are at $17.17, and oil futures are $46.69.
S&P 500 resistance levels are 2000, 2017, and 2038; support levels are 1975, 1925, and 1900.
DJIA futures are down 61 points.
SNB STUNS THE MARKETS INTO HEAVY LOSSES
In a surprise move, the Swiss National Bank abandoned franc’s peg to Europe. The franc surged as much as 38% vs. the dollar before pulling back. Swiss stocks have suffered heavy losses.
DJIA futures fluctuated from up strongly to down strongly to about breakeven.
Gold is running on currency turmoil.
Oil is rallying.
Interest rates are range bound.
Our very, very short-term early stock market indicator mild positive.
Gold futures are at $1253, silver futures are at $17.05, and oil futures are $49.50.
S&P 500 resistance levels are 2017, 2038, and 2063; support levels are 2000, 1975, and 1950.
DJIA futures are up 55 points.
PERFECT STORM PROVIDES OPPORTUNITIES
The following are leading to a perfect storm today.
- Heavy selling of copper in Asia
- Key technical reversal in the U. S. stock market
- Poor December Retail Sales
- JPM, one of the largest banks, misses revenues
- Massive short squeeze in bonds
The storm provides opportunities to buy at lower prices for long trades and to take profits on short trades.
Barring lack of action by ECB, the storm will not last long.
Oil is rallying.
The momo crowd continues to buy gold and silver.
Our very, very short-term early stock market indicator is negative but can easily reverse intra-day to the upside.
Gold futures are at $1240, silver futures are at $16.97, and oil futures are $45.98.
S&P 500 resistance levels are 2000, 2017, and 2038; support levels are 1975, 1950, and 1925.
DJIA futures are down 238 points.
FIVE YEAR JAPANESE BONDS HIT ZERO YIELD
Yield on five-year Japanese bonds hit zero.
China export growth slows.
The momo crowd continues to aggressively buy gold and silver.
Oil is volatile.
Interest rates are range bound.
Our very, very short-term early stock market indicator is positive.
Gold futures are at $1238, silver futures are at $17.06, and oil futures are $44.77.
S&P 500 resistance levels are 2038, 2063, and 2100; support levels are 2017, 2000, and 1975.
DJIA futures are up 105 points.
POSITIVE SENTIMENT FROM PARIS CARRIES INTO MARKETS
Paris march against terrorism drew much larger crowds than anyone anticipated. Positive sentiment from Paris has carried into the markets in early trading. Historically such moves are short lived.
Oil continues its fall.
Interest rates are hovering near lows.
The momo crowd continues to aggressively buy gold and silver.
Our very, very short-term early stock market indicator is neutral.
Gold futures are at $1223, silver futures are at $16.53, and oil futures are $46.60.
S&P 500 resistance levels are 2063 and 2100; support levels are 2017, 2000, and 1975 .
DJIA futures are up 24 points.
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