The bank indices we’ve been watching are approaching target areas.
Recent price signals in silver should put gold traders on alert to watch for a surprise near a support area that many traders are probably watching.
Can we promise it will fall from here or nearby? No, but we still maintain it’s dangerous to be long.
Tom discovered this fork several years ago. Perhaps it will make itself felt again soon.
An update on the Yen short trade we’ve been following for several months.
We captured a bit more than 11 points throughout the day with three fairly easy, conservative trades.
We anticipate near-term strength in currencies along with weakness in equity and bonds, but we still expect bonds to find support before too long.
This has implications for currencies, commodities, and (notably) stock indices.
S&P futures had a strong reaction to the round-number 1800 level yesterday morning.
A couple of weeks ago Tom, our main analyst, decided to take a fresh look at gold. That has led us to consider a new long-term pattern as our primary scenario.