Gold bugs cheered, but for how much longer?
The last two weeks have been positive ones, and not just for equities, as gold bugs finally found something to celebrate with a return of some much needed bullish momentum.
The last two weeks have been positive ones, and not just for equities, as gold bugs finally found something to celebrate with a return of some much needed bullish momentum.
An interesting phase of price action for two of the most precious commodities over the last few days, with both gold and oil, testing key tipping points on the daily chart.
Investors are expecting an eventual reduction of support by the Fed, and Merkel winning the election this weekend. However, what stock markets have not priced in is the resurgence of Eurozone troubles into the headlines. So what are the options, why is this important and how will this effect markets?
This week was always going to be a tricky one for both traders and investors, with the market’s primary focus being the FOMC meeting on Wednesday. The meeting at which the FED is likely to signal the beginning of the end of its bond buying program. Well, that’s the theory anyway, but given the less that stellar NFP data, this is far from certain.
The Goldman Sachs (GS, quote) Hedge Fund Report was released this morning providing readers a significant amount of hedge fund data including the fund’s top holding based on their 13F filings from the second quarter.
With 90 minutes before the start of a new week of trading in the U.S. markets – futures are pointing to a slightly lower open despite uncertainty whether the U.S. Federal Reserve will being tapering its $85 billion asset buying program.
With the long summer days now coming to an end, it’s time to re-visit that perennial gauge of market risk, the VIX for a view of whether the equity market is indeed over bought, and likely to reverse dramatically.
The sideways stock market that has been with us since late July doesn’t appear to want to change. Equities are somewhat in a dead market at this time.
The WTI September crude oil futures contract is now building into an interesting phase of price action, and in many ways is mirroring a similar period between May and July 2013, where the commodity oscillated between $92 per barrel to the downside and $98 per barrel to the upside, before finally breaking out.
For longer term traders in YM futures, the index in April has continued the pattern of trading that we saw during the second half of March, with the Emini contract trading in a tight range, closing the week following the NFP data, at 14,484, and back in this area once again.