WEEKLY MARKET DIGEST STOCK MARKET OVERBOUGHT CONDITIONS RELIEVED OBSCENE PREDICTIONS ON SILVER
Post on: 11 Июль, 2015 No Comment
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(The Weekly Digest reproduces the morning capsules made available every morning before the market open in the Real Time Feeds to the paying subscribers.)
VERY SHORT-TERM OVERSOLD CONDITION RELIEVED, GOLD TRADING UNDER $1200
June 28, 2013
The oversold condition of the stock market in the very short-term has now been relieved. The trading pattern of the market now will be a valuable tell.
Gold continues to trade under $1200.
Gold futures are at $1192, silver futures are at $18.58, and oil futures are $97.23.
S&P 500 resistance levels are 1625, 1635, and 1650; support levels are 1600, 1575, and 1570.
DJIA futures are down 54 points.
WINDOW DRESSING AHEAD, NO BOUNCE IN GOLD
June 27, 2013
Expect window dressing today and tomorrow as this is the quarter end. In window dressing, some portfolio managers take three actions for show-and-tell. First they dump the stocks they do not want to show in their portfolios in quarterly reports. Second, they buy the stocks that they think their clients will like to see in their portfolios. Third, they tend to run up the stocks they own to show better performance at the close of the quarter.
Sometimes, for us, window dressing leads to opportunities to buy the stocks portfolio managers are dumping at lower prices and short the stocks portfolio managers are buying at higher prices. If such opportunities were to occur they will be on the Real Time Feed.
In Asian open, gold tried to bounce, but the bounce was sold by American sellers. Gold and silver are very oversold in the short-term. However buying gold and silver is difficult because of the high risk at this time.
Gold futures are at $1231, silver futures are at $18.68, and oil futures are $95.95.
S&P 500 resistance levels are 1625, 1635, and 1650; support levels are 1600, 1575, and 1570.
DJIA futures are up 92 points.
STOCKS CONTINUE OVERSOLD BOUNCE, GOLD FALLS $40
June 26, 2013
Stocks continue their oversold bounce. In our models, significant weight is given to the internals on a bounce from oversold conditions. We will be carefully watching and our algorithms will be gathering extensive amounts of data and automatically analyzing the data to provide us with preliminary conclusions about future market direction.
Last night, aggressive selling was seen in gold and silver in Asia. It is not clear the real reason behind the selling.
Gold futures are at $1242, silver futures are at $18.87, and oil futures are $94.96.
S&P 500 resistance levels are 1600, 1607, and 1625; support levels are 1575, 1570, and 1565.
DJIA futures are up 71 points.
MARKET SET FOR A REBOUND
June 25, 2013
The market is set for a rebound in the very, very short-term oversold condition. When thinking in terms of overbought and oversold conditions, it is important to consider the time frame. For example, in the short-term, medium-term and long-term as defined in ZYX Trade Management Guidelines, the market is still overbought.
Our stance remains select buying, select shorting and select profit taking.
Gold futures are at $1280, silver futures are at $19.65, and oil futures are $95.81.
S&P 500 resistance levels are 1600, 1607, and 1625; support levels are 1570, 1564, and 1558.
DJIA futures are up 78 points.
SELLING CONTINUES, OBSCENE PREDICTIONS ON SILVER
June 24, 2013
In the early morning, selling in stocks continues. In the very short-term, the stock market is getting oversold but to counter balance it the sentiment is still positive. This makes for a lot of uncertainty.
This morning, from a widely followed guru, there is a prediction of silver going to $5.00. Interestingly, the same guru was predicting silver at $200 when silver was trading at $50.
Our stance remains that of caution both the on the long and short side.
Gold futures are at $1286, silver futures are at $19.74, and oil futures are $93.40.
S&P 500 resistance levels are 1600, 1607, and 1625; support levels are 1570, 1565, and 1658.
DJIA futures are down 106 points.