Financial Markets This week the S&P500 and the NASDAQ 100 fell slightly by 1.5% and 2.3%, respectively. The S&P is holding support at around ~5200. The small cap index (Russel 2000) was up by 1.6%. Trading volumes were average. The price action on precious metals was also positive. Gold made another upward move and closed the week at 3327$, another all-time-high. Gold may retrace back to ~3100$, at the top-end of the previous trend. Silver closed at 32.54$/oz, but has a lateral trend and seems stuck in the range 29-34$/oz. WTI was up by 3.6% for the week, and is holding around 64$/bbl. If it continues falling, the next support level is around 54$.   Bitcoin was little changed this week, and is now around 84760$. Bitcoin has been holding up pretty well given that it is usually considered a risk asset and it could have sold off together with the stock market a few weeks ago. It is probably too soon for a Bitcoin selloff as retail investors are not panicking ...

Financial Markets This week the S&P500 and the NASDAQ 100 recovered 5.7% and 7.4%, respectively. The S&P seems to have support at ~5000 and ~5200. The small cap index (Russel 2000) was up by 1.8%. Trading volume spiked on Wednesday (tariff suspension announcement) but was more subdued on Thursday and Friday as the markets chopped up and down looking for direction... The price action on precious metals was also positive. Gold made a big move (5.6%) and closed the week at 3236$, another all-time-high. Gold may retrace back to ~3100$, at the top-end of the previous trend. Silver also made a big move, but seems stuck in the range 29-34$/oz.   During the week, WTI momentarily hit 55$, but recovered and closed at ~61$/bbl. If it continues falling, the next support level is around 54$. Bitcoin was up by ~8% and is now around 84600$. Bitcoin has been holding up pretty well given that it is usually considered a risk asset and it should have sold off together with the stock m...

Financial Markets This week the S&P500 and the NASDAQ 100 dropped 9.1% and 9.8%, respectively. The small cap index (Russel 2000) was down by 9.5%. Trading volumes were above average especially on Thursday and Friday (after President Trump announced the new tariffs). The price action on precious metals was mixed... Gold dropped only 1.5% but silver tumbled 13.3%. Silver has a considerable industrial use, as does copper - both saw a big selloff this week, which signals that the market is expecting an industrial slowdown. WTI also fell considerably (9.7%) due to lower demand fears - it now sits at 62$/bbl. If it continues falling, the next support levels are at 58$ and 54$. Bitcoin was essentially unchanged for the week (+0.27%). This was a positive surprise because Bitcoin is usually considered a risk asset and it should have sold off together with the stock market! It is probably too soon for a Bitcoin selloff as retail investors are not panicking or in the need for liquidity ...

Financial Markets This week the S&P500 and the NASDAQ 100 re-tested support, losing 1.5% and 2.4%, respectively. The small cap index (Russel 2000) was down by 2.3%. Trading volumes were average during the week but declined on Friday. Precious metals remain strong. Gold continues making new all-time-highs - now at 3084$/oz. Silver gained 3.3% and is going to re-test the 34-35$ level again. WTI is still close to support and went up by 1.1% to ~69$/bbl. If it continues falling, the next support levels are at 64 and 62$. Bitcoin fell 4.3%, contradicting the previous week's move. It is essentially trading sideways, like the equity market. The key resistance and support levels on Bitcoin, for the short term, are 92k$ and 72-74k$, respectively. The relative strength of the US dollar (DXY) was essentially unchanged and is still at 104. The EUR/USD is around 1.082$, the GBP/USD is at 1.294$, and the USD/JPY is at 149.82 JPY. US M2 money supply at the date of 24th February 2025 w...