WEEKLY MARKET DIGEST: RARE SELLING IN GOLD AND SILVER AHEAD OF DIWALI $GLD $SLV $USO $DIA $SPY $QQQ $TBF $TBT

Twitter
LinkedIn
Facebook

 

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

STOCK MARKET ENCOURAGED BY DATA FROM CHINA, GOLD CONTINUES TO FALL

November 1, 2013

China Manufacturing PMI came at 51.4 vs. 51.1 consensus.  As a result the stock market is encouraged.

In the recent past, gold had moved up on better PMI data from China.  The theory has been that the better China does, the more gold the Chinese buy.  But today it is not true as gold continues to fall.

Oil breaks below $96.

Interest rates are slightly higher.

Gold futures are at $1313, silver futures are at $21.87, and oil futures are $95.70.

S&P 500 resistance levels are 1766, 1775, and 1800; support levels are 1735, 1710, and 1700.

DJIA futures are up 47 points.

RARE SELLING IN GOLD AND SILVER AHEAD OF DIWALI

October 31, 2013

Overnight, our algorithms detected heavy selling in gold and silver in India.  Traditionally India is the largest consumer of precious metals.

In India, the festival of Diwali in many ways is similar to Christmas in the West.  Just like people buy gifts for Christmas in the West, many people in India buy gold and silver before Diwali.  Gold and silver almost always go up prior to Diwali.  This year Diwali falls on November 3rd, its date is determined based on alignment of stars and thus is different every year.

Overnight selling in gold and silver in India prior to Diwali is a rare event.  Gold has traded as low at $1323.

See also  HOTTER INFLATION – MOMO BUYS THE BAD NEWS, JP MORGAN CEO SAYS RECESSION NOT ‘OFF THE TABLE’

Oil is slightly lower.

Interest rates are lower.

Stock futures are slightly lower.

Gold futures are at $1325, silver futures are at $21.93, and oil futures are $96.21.

S&P 500 resistance levels are 1766, 1775, and 1800; support levels are 1725, 1710, and 1700.

DJIA futures are down 6 points.

STOCKS, BONDS, AND GOLD SHARE DISAPPOINTING EMPLOYMENT DATA

October 30, 2013

ADP is the largest private payroll processor in the United States.  ADP uses its vast employment data to provide monthly non-farm private employment change.   The number came at 130K, published consensus was 125K but whisper numbers were over 150K.

The QE addicted markets are celebrating.  The theory is that weak employment means it will take longer for Fed to start tapering.

Stocks, gold, and bonds are all higher; oil is drifting down.

September Core CPI came at 0.1% vs. 0.1% consensus. In other words, inflation is under control.

It is also the Fed day.  Later today, the Fed will announce the results from the FOMC meeting.  Please stay alert for opportunities.

Gold futures are at $1355, silver futures are at $22.93, and oil futures are $97.21.

S&P 500 resistance levels are  1775, and 1800; support levels are 1750, 1725, and 1710.

DJIA futures are up 32 points.

INFLATION STILL UNDER CONTROL

October 29, 2013

September Core PPI came at 0.1% vs. consensus of 0.1%.

Interest rates are rising.

Gold is trading below $1350.

Oil is below $98.

The stock market shows no signs of a correction even though it is very overbought and a correction is in order.

Gold futures are at $1348, silver futures are at $22.52, and oil futures are $97.93.

See also  WEEKLY STOCK MARKET DIGEST: HEAVY ECONOMIC DATA AND FED SPEAK WEEK SHOWS INVESTORS OPPORTUNITIES BEYOND BIG TECH

S&P 500 resistance levels are 1766, 1775, and 1800; support levels are 1750, 1725, and 1710.

DJIA futures are up 16 points.

STRONG INDUSTRIAL PRODUCTION

September 28, 2013

September Industrial Production rose to 0.6% vs. consensus of 0.3%; Capacity Utilization came at 78.3% vs. 78% consensus.

Stock futures have given up most of the gains since last night open.  Last night Dow Jones futures were up more than 70 points, now they are down 5 points.

Oil is moving up slightly.

Gold is trying to maintain above $1350.

Interest rates are slightly higher.

Gold futures are at $1351, silver futures are at $22.56, and oil futures are $97.93.

S&P 500 resistance levels are 1766, 1775, and 1800; support levels are 1725, 1710, and 1700.

DJIA futures are down 5 points.

 

Subscribe to 'Generate Wealth'

Free Forever

More To Explore

30 Day Free Trial

Cancel within 30 days and you owe nothing

When you take a FREE 30 day trial, you get access to powerful techniques used by billionaires and hedge funds to grow richer. You can continue to use these powerful techniques to grow richer even if you cancel your subscription. You come out ahead by subscribing no matter how you look at it.

A fortune is to be made from AI stocks.
Get the list of 18 AI stocks to grab your share of the profits — no cost to you.

A fortune is to be made from AI stocks.

Get the list of 18 AI stocks to grab your share of the profits.

AI is a $1 Trillion Market

Making A Fortune
In Artificial Intelligence

Golden Age of Artificial Intelligence