Chris Vermeulen, Founder of The Technical Traders shares his thoughts on the recent pullback in gold. There is a debate over sentiment (which remains strong) vs momentum (which is negative) and which one will carry the market in the short term. We also look at the USD and the tech sector in terms of just how much more they can run.
Joel Elconin, Co-Host of the Benzinga Pre-Market Show joins me to share his thoughts on the swing day for the markets to start week. We also discuss move more into FAANG stocks recently and how that can drive markets. Finally we will be watching the jobs data on Friday and more importantly the market reaction.
Rick Ackerman is back today to share his updated thoughts on the charts for the PMs, global markets, and FAANG stocks. After our last call a couple weeks ago Rick was seeing a bullish set up for the metals. We revisit that setup after the drop on Friday. Also some comments from Rick on how he balances out the weakness he knows we should be seeing in US markets but the fact that global markets are struggling even more.
Erik Wettering, Founder of The Hedgeless Horseman is back and sharing some details on the stocks he likes. We discuss what Erik has entitled the Qunintonian Trio of Novo, Miramont, and Irving Resources all which have news in the coming months. We also discuss how to balance out stocks that an individual might like with stocks that the market is paying attentions to.
In full discloser Erik holds shares in Novo, Irving, Miramont, Westdome, and Kirkland Lake. I hold shares in Novo and Miramont.
Chris Temple joins me today wrap up the markets today. A up and down, then a little up, day for US equities and another down day for the metals. Plus with all this talk about a China/US trade deal we look past the noise to what is really going on.
Marc Chandler, Managing Partner at Bannockburn Global Forex joins me today to look ahead to the major news and data points this week. The ECB meets on Thursday which could shed more light on how worried they are about the overall Eurozone economy. On Friday we get the jobs numbers for February. Watch the wage growth number most closely as Marc thinks we could see a little pop, which impacts core inflation. Finally we discuss the market moves at the tail end of last week and the reversal in US markets today.
Click here to visit Marc’s free blog – Marc To Market. I visit the site everyday to catch up on what Marc is seeing around the world.
Below is a link to the replay of Chris’s recent webinar. We are hoping to connect at the market close but in the meantime I hope you enjoy this comprehensive rundown of Chris’s thoughts.
To follow up on my interview with Chris Kimble last Friday (click here to listen to that interview and check out those charts) gold reversed hard right at a multitude of resistance levels. On the bright side this reversal happened at the very beginning of the month which gives the monthly chart time to recover by month end. This correction took longer than we thought to occur but now we have to closely watch where the bottom will be.
Here’s the updated Gold chart provided by Chris.
Be sure to click here to visit Chris’s site – Kimble Charting Solutions.
Precious metals have been a hot topic for investors and the financial markets. Gold, in particular, has caught the eye of market participants.
After a 6 month rally into February, Gold futures reversed hard to the downside. This reversal came as gold prices tested triple resistance (1) at the same time that momentum was overheating (2).
The move lower created an ugly bearish reversal candlestick on the “weekly” chart. That reversal also saw Gold break its steep up-trend support line.
Rough start to the new month for Gold bulls.
Careful here. Volatility is ticking higher. No need to be a hero – gold bulls will now look for a higher low to form in weeks ahead.
- Segment 1 – Lowell Ponte discusses reparations to African Americans.
- Segment 2 – Lowell Ponte discusses the Democratic Party.
- Segment 3 and 4 – Christine Douglas Williams author of The Challenge of Modernizing Islam joins us in exploring this intriguing subject.
This week’s show is packed with some important comments from Peter Boockvar, Matthew Zabloski, and Quinton Hennigh. As we ended the week the US markets started a short term breakout while the precious metals started to breakdown. We focus on the big picture themes for US markets, global economies, and the metals. Also be sure to listen to the comprehensive update on Novo Resources to wrap up the first hour.
- Segment 1 and 2 – Peter Boockvar, Chief Investment Officer at Bleakly Advisory Group shares his thoughts on the recent data out of the US, China, Europe. Plus we address the recent comments out of the Fed regarding inflation running over 2%. – Click here to visit Peter’s site, The Boock Report.
- Segment 3 – Matthew Zabloski, Managing Director at Delbrook Capital takes a look into the resource sector. We discuss large number of resource funds shutting down and recent M&A activity.
- Segment 4 – Quinton Hennigh joins me for a comprehensive update on Novo Resources. It’s along interview but answers a lot of your questions.