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


Commentary: US stocks saw choppy trade again Tuesday, and it is likely we will see some volatility after the BOJ and the FOMC policy announcements Wednesday. PE

FLASH: From the BOJ minutes “Quantitative and Qualitative Monetary Easing with Yield Curve Control” aka QQE, Stocks up, JPY up

DJIA at 18129.96, or +0.05% is unable to rise above 18300, and may trade within the 18000-18300 range for the next couple of sessions, as we wait for the words from the Key central banks on interest rate policy, Hawkish, Dovish or a confusing combination.

DJIA+9.79 at 18129.96, NAS Comp +6.33 at 5241.36, S&P 500 +0.64 at 2139.

Trade was light on the NYSE Tuesday, with 741-M/shares exchanged

  • Russell 2000 +8.2% YTD
  • S&P 500 +4.7% YTD
  • NAS Comp +4.7% YTD
  • DJIA +4.1% YTD
HeffX-LTN Analysis for DIA: Overall Short Intermediate Long
Bearish (-0.27) Bearish (-0.26) Bearish (-0.35) Neutral (-0.21)

As I write this report, at 8:56a EDT, 21 September the US major stock market indexes are trading higher with a Bullish Bias.

S&P 500 futures Vs fair value: +5.80. NAS Comp futures Vs fair value: +21.30.


Crude Oil, Gold, Silver & Copper Markets

Commentary: Commodities are waiting for the BOJ and FOMC meets and may move today after the central banks policy announcements. PE

Gold at 1317.20 is little changed in the last 3 trading sessions and may move little before the FOMC policy statement Wednesday afternoon. So, as long as the support at 1310-1300 holds, the chances of seeing 1330 is still in view.

Silver 19.23 held Tuesday, but resistance at 19.30 must be broken on the Northside, or the range bound movement in 18.50-19.30 may continue longer in here.

Brent Crude at 46.54 and WTI Crude Oil at 44.89 work to stay above respective supports of 45.00 and 42.50. Should the supports hold in here, then could see a bounce to 50.00 for Brent Crude and 46.00 for WTI Crude Oil near term.

Copper 2.158 has been trading around the same marks at 2.15-17 for the last 5 sessions, but may see 2.20 – 2.25 in the near term. 1st support lies 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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