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.
Anaconda Mining had a very busy last couple weeks releasing news on exploration drilling and development updates as well as the 2018 production cash-flow. Dustin Angelo, President and CEO joined me to full recap of the news. Please listen through the full interview as the end is very important to understand the 2018 financials.
If you have any questions for Dustin please swing by his booth at PDAC (booth 2906) or email me at Fleck@kereport.com.
Dana Lyons, Fund Manager in Chicago joins me to share some of his recent research on the US markets. See the chart below that outlines just how stretched the market has gotten from its mean. While this is not a good short term indicator it does validate the overall idea that the markets should have a big correction coming.
Chris Kimble, Founder of Kimble Charting Solutions shares some key metals and currency charts that outline key levels that must be broken for a bullish trend to solidify. As Chris points out at the end, you need to focus on sustainable trends and not try to find the trend.
Follow along with the charts below and click here to visit Chris’s site for more valuable charting commentary.
Doc is back today to update us on a scenario where the precious metals and US markets head down together. With both slowly rolling over in the past couple days right at resistance the rare correlational between stocks and gold could be here for a little while. It is very interesting to see a lot of the hard core bulls disappointed on the overall sector.