(The Weekly Digest reproduces the morning capsules made available every morning before the market open in the Real Time Feeds to the paying subscribers. )
AN UPBEAT START FOR STOCKS BUT POOR START FOR GOLD AND OIL IN THE NEW YEAR
The New Year has an upbeat start for stock but a poor start for gold and oil.
Gold and oil are breaking support.
Interest rates are range bound.
Our very, very short-term early stock market indicator is mild positive.
Gold futures are at $1171, silver futures are at $15.59, and oil futures are $52.68.
S&P 500 resistance level is 2100; support levels are 2038, 2017, and 2000.
DJIA futures are up 76 points.
U. S. MAY COUNTER OPEC MOVE TO KILL OIL SHALE REVOLUTION
OPEC previously decided not to cut production in an effort to adversely impact the U. S. oil shale revolution. So far OPEC strategy has worked in that oil prices have fallen. The U. S. may move aggressively to counter OPEC by allowing more oil exports. Such a move will have significant investment implications. Please stay tuned for specifics on both long and short side.
Oil has broken support at $53.00.
Gold is giving up some of the gains from yesterday’s short squeeze.
Interest rates are range bound.
Our very, very short-term early stock market indicator is neutral
Gold futures are at $1196, silver futures are at $16.04, and oil futures are $52.86.
S&P 500 resistance level is 2100; support levels are 2063, 2038, and 2017.
DJIA futures are up 15 points.
MARKETS IN CAUTIOUS MODE AS COPPER AND OIL BREAK RECENT SUPPORTS
Markets are in cautious mode as copper and oil have broken recent support levels. Risk aversion is leading to higher bonds, higher yen, and higher gold.
Our very, very short-term early stock market indicator is negative.
Gold futures are at $1198, silver futures are at $16.05, and oil futures are $53.21.
S&P 500 resistance level is 2100; support levels are 2063, 2038, and 2017.
DJIA futures are down 40 points.
HAMMERING OF STOCKS IN ATHENS TEMPERS BULLISH SENTIMENT IN THE U. S., LIBYA FIRES OFFER RELIEF FOR OIL
Stocks in Greece plunged after the government defeat. Greece faces new elections. The concern is that the opposition Syriza party may win the elections and cause the troika to withdraw financial support for Greece.
Militants in Libya set six oil tanks at Libya’s largest oil port ablaze. Initially this offered support for oil prices but the support seems to be waning as of this writing.
Gold and interest rates are range bound.
Our very, very short-term early stock market indicator is negative.
Gold futures are at $1194, silver futures are at $16.14, and oil futures are $55.48.
S&P 500 resistance level is 2100; support levels are 2063, 2038, and 2017.
DJIA futures are down 53 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.
