Financial Markets This week, trading volumes were lower than average, which is usual in the holiday season. The main stock market indices were little changed, with the S&P500 and the NASDAQ 100 gaining 0.7% and 0.9%, respectively. The small cap index (Russel 2000) gained just 0.4% for the week, after moving up and down during the week, forming a nice dogi pattern. Gold was flat and silver lost 0.45%. Gold remains on the lower range of the current trading channel, while silver is looking weaker and might to fall to 28$/oz in the near future. If the price of gold doesn't remain in the current trading channel, it might go lateral or correct in the short/medium term. The loss of momentum in gold indicates that the fear of inflation has subdued somewhat. WTI rised to 70$ and should continue in the 67-71$ range in the next week. Bitcoin fell to 94k$ and the 93k$ level seems to be a short term support. The relative strength of the US dollar (DXY) was unchanged this week (~...

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...