Financial Markets This week, the markets were shaken by hawkish statements by the FED, who signaled fewer and smaller rate cuts for 2025. The main stock market indices were down on Wednesday, and US bond yields adjusted up. Overall, for the week, the S&P500 and the NASDAQ 100 lost 2% and 2.3%, respectively. More dramatically, the small cap index (Russel 2000) lost 4.5%, indicating a flight to quality and a risk-off attitude from investors and institutions. Gold and silver lost 0.9% and 3.5%, respectively. Gold is on the lower range of the current trading channel, while silver is looking weaker and might continue to fall during the next days. If the price of gold doesn't remain in the current trading channel, it might go lateral or correct in the short/medium term. It seems like the rally in gold is cooling off. WTI fell to 69.5$ and should continue in the 67-72$ range in the next week. Bitcoin fell 7.5% and might fall back to 92-93k$ if the correction continues. The relativ...

Financial Markets For the week, the main stock market indices were little changed, with the S&P500 losing 0.6% and the NASDAQ 100 0.7% in the green. The small cap index (Russel 2000) lost 2.6% and is around support. Precious metals are on the lower range of the current trading channel. Gold gained 0.6% and silver fell 1.4%. Nothing new to say about precious metals except that current levels must be defended, otherwise we will turn bearish. WTI was up by 5.8% into the 70$ range. It may fall back and test the 67-68$ level again. Bitcoin was up by 3.2% and continues flying above the 100k$ level. However, volume was lower, which can be a reversal signal. The relative strength of the US dollar (DXY) was up this week (~107). The EUR/USD is around 1.05$, the GBP/USD is at 1.26$, and the USD/JPY is at 153.6 JPY. US M2 money supply at the date of 28th October 2024 was up by 0.42%. The national financial conditions index (NFCI) for the week of 2nd December 2024 loosened by 3....

Financial Markets For the week, the main stock market indices were up, with the S&P500 gaining 1% and the NASDAQ 100 3.3% in the green. The small cap index (Russel 2000) lost 1.2% and is around resistance. Precious metals are on the lower range of the current trading channel. Gold fell 0.7% and and silver gained 1.1%. Nothing new to say about precious metals except that current levels must be defended, otherwise we will turn bearish. WTI fell 1.5% and continues hammering the 67-68$ level, a short term support. If this level breaks, WTI can go to 61-62$ over the next weeks or months. Bitcoin was up 4%, momentarily passing the 100k$ level, and is currently around 99k. We are now in uncharted territory. Bitcoin can pullback at any moment or consolidate for a while, even if buyers keep showing up, likely because a lot of BTC holders are taking  profits around current levels (supply and demand are balanced). The relative strength of the US dollar (DXY) was little chang...

Financial Markets For the week, the main stock market indices were up, with the S&P500 gaining 1.1% and the NASDAQ 100 0.7% in the green. The small cap index (Russel 2000) gained 1.1%. Precious metals are on the lower range of the current trading channel. Gold and silver fell 2.4% and 2.3%, respectively. The metals need to defend the current levels, otherwise we must turn bearish. WTI fell 4.2% and is holding the 68$ level. Oil will likely trade sideways in the near future (67-72$). Bitcoin is around 97000$ and seems like it will have some trouble going above 100k... The relative strength of the US dollar (DXY) hit resistance and fell to ~106. The EUR/USD is around 1.05$, the GBP/USD is at 1.27$, and the USD/JPY is at 149.7 JPY. US M2 money supply at the date of 28th October 2024 was up by 0.42%. The national financial conditions index (NFCI) for the week of 18th November 2024 loosened by 5.1% and doesn't translate signs of financial stress in the markets. US b...

Financial Markets For the week, the main stock market indices were up, with the S&P500 gaining 1.7% and the NASDAQ 100 1.9% in the green. The small cap index (Russel 2000) gained by 4.5%. Precious metals recovered from last week's decline. Gold and silver gained 6% and 3.6%, respectively. The metals can go in either direction from current levels - let's keep watching. WTI went up by 6.3% and is now around 71$. Oil will likely trade sideways in the near future (67-72$). Bitcoin continued ramping up and is at 98.4k$. Will it reach 100k before pulling back? The relative strength of the US dollar (DXY) was up this week, fueled by weak European PMI data which indicates economic contraction in the old continent. The DXY is at a short term resistance (107). The EUR/USD is around 1.04$, the GBP/USD is at 1.25$, and the USD/JPY is at 154.73 JPY. US M2 money supply at the date of 30th September 2024 was up by 0.38%. The national financial conditions index (NFCI) for the...

  Financial Markets For the week, the main stock market indices were DOWN, with the S&P500 losing 2.1% and the NASDAQ 100 3.4% in the red. The small cap index (Russel 2000) plummeted by 3.9%. Precious metals continued correcting. Gold and silver fell 4.5% and 3.4%, respectively. Silver is reaching the 30$ level, which should be short term support. WTI is around 67$ and is looking bearish. Oil will likely trade sideways in the near future (67-72$). But if it continues falling it can easily go to 64$/bbl. Bitcoin continued its hysteria and ran up by 12.6% this week. We are in uncharted territories, but a pull-back and consolidation would be healthy. The relative strength of the US dollar (DXY) was up by 1.6% and is reaching resistance (107). The EUR/USD is around 1.05$, the GBP/USD is at 1.26$, and the USD/JPY is at 154.30 JPY. US M2 money supply at the date of 30th September 2024 was up by 0.38%. The national financial conditions index (NFCI) for the week of 4th Nov...

Financial Markets For the week, the main stock market indices were UP, with the S&P500 gaining 4.7% and the NASDAQ 100 5.4% in the green. The small cap index (Russel 2000) got pumped by 8.7%. Precious metals are retracing a bit these days. Gold and silver fell 1.9% and 3.5%, respectively. Recently, silver broke below 32$ and is now probably going towards the 30$ level. WTI is around the 70$ level, which is short-term support. Oil will likely trade sideways in the near future (68-72$). Bitcoin spiked 17% this week, breaking above the 74k level. It can re-test this level again before continuing to the upside (or breaking back below!). The relative strength of the US dollar (DXY) was up by 0.6%. The EUR/USD is around 1.07$, the GBP/USD is at 1.29$, and the USD/JPY is at 152.6 JPY. US M2 money supply at the date of 30th September 2024 was up by 0.38%. The national financial conditions index (NFCI) for the week of 28th October 2024 tightened by 1.4% and doesn't transla...

Financial Markets For the week, the main stock market indices were down, with the S&P500 losing 1.4% and the NASDAQ 100 1.6% in the red. The small cap index (Russel 2000) was unchanged. Precious metals remain strong but are stalling a bit. Gold and silver fell 0.4% and 3.7%, respectively. Recently, silver broke above 32$ and is now re-testing this level, which must be defended, otherwise we may become bearish. WTI is still around the 69$ level, which is short-term support. Oil will likely trade sideways in the near future. Bitcoin spiked during the week, but ended only 2.3% above the previous week. It remains close to the upper range of the channel it has been trading in since March 2024. In our opinion, bitcoin is not going above this level easily. The relative strength of the US dollar (DXY) was unchanged. The EUR/USD is around 1.08$, while the USD/JPY is at 153 JPY. US M2 money supply at the date of 30th September 2024 was up by 0.38%. The national financial conditio...

Financial Markets For the week, the main stock market indices were mixed, with the S&P500 losing 1% and the NASDAQ 100 up by 0.1%. The small cap index (Russel 2000) fell 3.1%, giving up the previous week's gains. The precious metals remained strong but are about to stall. Gold gained 0.9% while silver ended the week unchanged. Recently silver broke out of the 32$ level and now needs to defend this level. WTI jumped off the 68$ level, and gained 4.1% this week -it now sits at ~71.6$/bbl. Bitcoin fell 2.7% and is in the upper range of the channel it has been trading in since March 2024. In our opinion, bitcoin it is not looking particularly bearish nor bullish. It can go up to 74k or down to 60k in the near future. The relative strength of the US dollar (DXY) was again up slightly and into the 104 level. The EUR/USD is around 1.08$, while the USD/JPY is at 152 JPY. US M2 money supply at the date of 30th September 2024 was up by 0.38%. The national financial conditions ...

Financial Markets For the week, the main stock market indices were mixed, with the S&P500 gaining 0.9% and the NASDAQ 100 down by 0.3%. The small cap index (Russel 2000) rose 2% and now approaches short-term resistance. The precious metals are strong. Gold rose 2.4% and continues with good momentum into uncharted territories. Silver broke out of the 30$ level and rose 6.9% the past week - it can continue upwards or it can retrace back to the 32$ level. The barrel of WTI fell sharply and stopped at the 69$ support level. Bitcoin rose almost 10% and is now starting to look more bullish as it escapes the downward channel it was trading in. The relative strength of the US dollar (DXY) was again up slightly and into the 103 level. The EUR/USD is around 1.08$, while the USD/JPY is at 149 JPY. US M2 money supply metrics have not been updated since August. The national financial conditions index (NFCI) for the week of 7th October 2024 loosened by 1.51% and doesn't translat...

Financial Markets For the week, the main stock market indices were up, with the S&P500 gaining 1.1% and the NASDAQ 100 up by 1.2%. The small cap index (Russel 2000) rose 0.9% but seems to be on a downward trend. Gold is unchanged and seems to be consolidating around the 2600$/oz level. Silver fell 2.1% and will likely continue in the 30-32$ range in the near future. The barrel of WTI gained 1.4% and hit the 75$ level, which could be resistance - this would send oil lower over the next weeks. Bitcoin was unchanged this week and is close to the middle of the 53-66k$ range it has been trading in for the past months. The relative strength of the US dollar (DXY) was up slightly but still holds the 102 level. The EUR/USD is around 1.09$, while the USD/JPY is at 149 JPY. US M2 money supply metrics have not been updated since the 26th of August. The national financial conditions index (NFCI) for the week of 30th September 2024 loosened by 2.1% and doesn't translate signs o...

Financial Markets For the week, the main stock market indices were essentially unchanged, with the S&P500 gaining 0.2% and the NASDAQ 100 up by 0.1%. The small cap index (Russel 2000) dropped 0.5%. Only the S&P and the DOW closed at an all-time-high, but barely. Gold dropped slightly (0.2%) but is holding the 2650$/oz level. Silver gained 1.8% and is in the 31-32$ range. We still believe this is the short term high for silver and the next considerable movement is downward, essentially from a fundamental perspective (slowing industrial demand). The barrel of WTI popped 8.5%, on fears of supply shocks stemming from the Middle East war and stress between Israel, Lebanon and Iran. Bitcoin fell 5.7% and is heading to the middle of the 53-66k$ range it has been following for the past months. The relative strength of the US dollar (DXY) is up by 2.1% into the 102 level. The EUR/USD fell to 1.09$, while the USD/JPY is up to 148 JPY. US M2 money supply metrics have not been up...