Financial Markets For the week, the main stock market indices were positive, with the S&P500 gaining 1.5% and the NASDAQ 100 up by 1.1%. The small cap index, the Russel 2000, gained even more (3.6%). However, this was not a week for new highs. Gold is up marginally and closed the week at an all-time high of 2512$. In our opinion, gold will now consolidate around current levels. Silver gained 2.8% and is around the 30$/oz level - we are unsure about the direction of silver from the current level as it can either go towards 31$ or retrace back to ~27-28$. The barrel of WTI fell 0.7% and sits around 75$ per barrel. WTI has been trading around an average of 78$ and on a range that is narrowing in amplitude. We still think that during August or September we might see a bigger move either to the upside (above 82$) or to the downside (below 72$). Bitcoin is up by a massive 9.8% and is almost hitting resistance at 66000$. The relative strength of the US dollar (D...

Financial Markets For the week, the main stock market indices were positive, with the S&P500 gaining 3.9% and the NASDAQ 100 up by 5.4%. The small cap index, the Russel 2000, also gained a bit (3.2%). Gold is up by 3.1% and closed the week at an all-time high of 2506$. In our opinion, gold is now subject to more bullish momentum before any considerable retracement or correction, unless the macroeconomic or interest rate outlook changes dramatically. Silver gained 5.7% and is defending the 28$/oz level in the near term. The barrel of WTI fell 2.1% and sits around 75$ per barrel. WTI has been trading around an average of 78$ and on a range that is narrowing in amplitude. We still think that during August or September we might see a bigger move either to the upside (above 82$) or to the downside (below 72$). Bitcoin is up by 1.5% this week and continues on a sideways to slightly downward trend. The next support is around 52000$. The relative strength of the US dollar (DX...

Financial Markets For the week, the main stock market indices were positive, with the S&P500 recovering and ending unchanged, and the NASDAQ 100 up by 0.4%. After three weeks of consecutive declines, and after a "black" Monday on the markets worldwide, the stock market indices rebounded. The Japanese carry trade and the over-reaction of traders were blamed for the situation. However, it is unclear at this moment whether some sort of systemic worldwide financial crisis is brewing... On a weekly basis, gold fell 0.5% and is hovering close to all-time highs. It may test the 2500$ level in the near term. Silver fell 3.8% and seems like its heading to 26$ per ounce level in the next weeks. The barrel of WTI is up by 3.9% and sits around 79$ per barrel. WTI has been trading around 78 and on a range that is narrowing in amplitude. Thus, during August or September we might see a bigger move either to the upside (above 82) or to the downside (below 72).  Bitcoin fell...

  Financial Markets For the third consecutive week, the main stock market indices were negative, with the S&P500 losing 2.1%, and the NASDAQ 100 down by 3.1% on a weekly basis. Both the S&P and the NASDAQ are approaching a near-term support level, but could still fall around 1% next week. The RUSSEL 2000 was also down by a whooping 7.2%, serving as an evidence that money is not rotating within the stock market. Instead, sellers are cashing out of the stock market, and keeping cash and bonds as less risky assets. For now, the price of Gold has also benefited from the stock market selloff. On a weekly basis, gold has rised 2.3% and it may test the 2500$ level in the near term. Silver has recovered 2.2% but seems weaker than gold - nevertheless, silver may hold the 28$ per ounce level in the near term. The barrel of WTI fell 4.7% and sits around 73 to 74$ per barrel. WTI has been trading around 78 and on a range that is narrowing in amplitude. Thus, during August we...