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: Investors rejoiced as Fed stood pat and left the office policy interest rate unchanged. Stocks rose across the board with DJIA and S&P 500 indices adding +0.9% and +1.09% respectively. Precious metals also gained on USD weakness. The benchmark COMEX Gold contract, extending the gains for a 3rd day running, added +1.01%, the Silver contract was up +2.56%. PE

Dow at 18, 293.70 or +0.09%. the action Thursday the DJIA cracked the Key overhead resistance at 18,300, and faded. We wait to see if it can go higher.

DJIA +163.74 at 18293.70, NAS Comp +53.83 at 5295.18, S&P 500 +23.36 at 2163.12

Volume: Trade was average as more than 873-M/shares changed hands on the NYSE

  • Russell 2000: +9.6% YTD
  • S&P 500: +5.8% YTD
  • NaAS Comp: +5.8% YTD
  • DJIA +5.0% YTD
HeffX-LTN Analysis for DIA: Overall Short Intermediate Long
Neutral (-0.13) Neutral (-0.13) Neutral (-0.23) Neutral (-0.04)

As I write this report the DJIA mini Dec futures at trading at: 18,3283.00, +65 at 8:08a EDT, 22 September


Crude Oil, Gold, Silver & Copper

Commentary: Crude Oil and precious metals up on BOJ’s QQE, and the FOMC’s standing pat on rates. PE

Gold  at 1331.50  broke the resistance at 1330 on a sharp move North. Near term looks Bullish with the possibility of testing at 1350. 1st support seen at 1310.

Silver at 19.76 moved above resistance at 19.50 on a nice move, becoming Bullish in here.

Brent Crude at 46.44 and WTI Crude Oil 44.83 traded higher Wednesday. Supports 45.00 and 42.50 are holding in here but we need to see if the prices continue to hold at these higher marks, as prices move higher, we may see an extension towards 50.00 for Brent Crude and 46.00 for WTI Crude Oil

Copper at 2.15 has been stable in the 2.14-2.17 region for the past few sessions, as long as support at 2.12 holds, there is a possibility for Copper to move North to 2.20 in the near term.

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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