Rhetoric build-up for a December rate hike seems poised to a replay of 2015 year-end rate-hike stock market panic. And a uncertain US election is not helping it neither. The outlook seems bleak, and the mid-term support of $SPY is yet too far away. Look out for below! $SPY could easily retest 180 support till year end.
Silver has bounced off medium/long term range bottom. While election is putting big movements in suspense, a break-out of 19.5~19.7 range within November could signal a attempt of reaching 23+ before year end.
Gold has bounced off medium/long term range bottom. While election is putting big movements in suspense, a break-out of 1320~1330 range within November could signal a attempt of reaching 1400+ before year end.
Keep buying gold at these levels, you can't lose. It is the central banks who are losing controls. But until central banks find out what path forward they will together take, expect gold stay side ways, and make this an opportunity of accumulating.
The market is simply supported by FED's balance sheet, without fresh round of QE, S&P 500 will not go back to its previous ascending channel.
FED's balance sheet will keep a strong bottom for S&P 500 around 180, should FED hikes rate in September. Even if FED doesn't raise rate, which is most likely the case, a prospect of Trump presidency would likely be an...
After hitting the range bound ceiling, $SPY is looking a sell until 180, which is still a lower bound supported by FED balance sheet ( rothbardiangoldprice.com )
Gold has bounced off short-term range lower bound nicely as illustrated, for short-term traders sell when it reaches 1320~1340. For long term buyers, hold off until next lows.
if stay in blue wedge:
bounce back to 202, bound to range
else if blue wedge upper breaks:
if green case:
touch 203.5
else red case:
touch 205.5
else if blue wedge lower breaks:
if gren case:
touch 195
if red case:
touch 193.5
