The employment report Friday will be key. Another bad number and the dollar will tank and start a left translated daily cycle. And a weak dollar is going to be bullish for everything. So don’t be surprised if stocks react bullishly to a poor number. This has never been about the economy or economics, or anything like that. This entire bull market has been based on QE and it will continue to be driven by QE.
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Update on oil ? Looks LIke the DCL wants to get retested …
What is your view for crude, still holding your last forecast of retest to $55 or so?
You would be very greedy to not sell at least some of gold miners here with BPGDM at 100. HUI is now even more stretched from the 200DMA than ever. This sort of run is unsustainable just like the one in May where it pulled back some
miners are very much like a “derivative”.
look at gold for clues on gold miners
similarly .. look at silver (platinum) for leads on silver (plat) miners
… and if the NFP report is strong the $USD will soar to 100 and gold will reach $1400.
IBB just made a higher high. Good news
And right on cue the bears get kicked in the teeth again.
Will they ever learn?
do not cheer on the first upswing in stock & oil triggered by USX’ returning to the b/o trend line of its bullish flag.
besides USX’ prospect of being slingshot upwards by its trend line, there is also mounting intra-day selling on strength of stocks!