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...