Key US Stock, Crude, Gold and Silver Markets Briefing

Key US Stock, Crude, Gold and Silver Markets Briefing

Key US Stock, Crude, Gold and Silver Markets Briefing

$DIA, $OIL, $USO, $GLD, $SLV, $CU

Commentary: Waiting for the BOJ and FOMC meets trade as we saw Monday was/is choppy. PE

DJIA at 18120.17 declined slightly Monday on choppy trade ahead of the US Fed policy announcement Wednesday. Major support of 18000-17850 continues to hold strong, some Southside bias remains while the index trades below 18300. The broad 18400-18000 range could be the area of trade for a few sessions.

DJIA -3.63 at 18120.17, NAS Comp -9.54 at 5235.03, S&P 500  -0.04 at 2139.12

Trade was light on the NYSE Monday, with 760-M/shares exchanged.

  • Russell 2000: +8.5% YTD
  • S&P 500: +4.7% YTD
  • NAS Comp: +4.6% YTD
  • DJIA: +4.0% YTD
HeffX-LTN Analysis for DIA: Overall Short Intermediate Long
Neutral (-0.20) Bearish (-0.39) Bearish (-0.35) Neutral (0.12)

As I write this report, at 4:10a EDT, 20 September the US major stock market indexes are trading flat to unchanged with a slight Bearish Bias.

Crude Oil, Gold, Silver & Copper Markets

Commentary: Waiting for the BOJ and FOMC meets, all the commodities are stable  above their respective supports on a soften USD. PE

Gold at 1319.50 tested and held above the support of 1310-1300 as expected and keeps open the chances of seeing 1330 the Key resistance near term, but the major move can be expected Wednesday after the central bank meets.

Silver at 19.28 making strong daily candle Monday, but unless the resistance of 19.30 is broken on the Northside, the range bound movement in 18.50-19.30 may continue for the next couple of sessions.

Both Brent Crude at 45.64, and WTI Crude Oil 43.00 made their weekly lows very close to their major supports of 45.00 and 42.50 respectively. These supports may hold until the Us Fed and BOJ conclude there policy meetings.

Copper at 2.161 is in a normal correction after the gains made last week, the Northside targets of 2.20 – 2.25 near term are unchanged. 1st support at 2.12

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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