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 again Thursday as Fed they digested Wednesday’s FOMC minutes . Stocks rose across the board with DJIA adding 0.8% and S&P 500 + 07% and the NAS Comp + .05% extending the Risk Rally. Precious metals also gained on USD weakness. The benchmark COMEX Gold contract, extending the gains for a 4rd day running, added +1.0%, the Silver contract was up +1.7%. PE

DJIA 18392.46, +0.54% gap opened up and made an intra-day high at the channel resistance posting a DOJI on the daily . If the resistance holds, see a dip back 18300 or lower. A break above 18500 could drive the benchmark index North to 18600-18750 medium term.

DJIA +98.76 at 18392.46, NAS Comp  +44.34 at 5339.52, S&P 500 +14.06 at 2177.18

Volume: Trade was moderate with about 833.3-M/shares exchanged on the NYSE.

  • Russell 2000 +11.2% YTD
  • NASComp +6.6% YTD
  • S&P 500 +6.5% YTD
  • DJIA +5.6% YTD
HeffX-LTN Analysis for DIA: Overall Short Intermediate Long
Neutral (-0.03) Bearish (-0.43) Neutral (0.10) Bullish (0.25)

As I write this report the DJIA mini Dec futures are trading at: 18,276.0, -23.0  on Friday, 22 September 9:51a


Crude Oil, Gold, Silver & Copper Markets

Commentary: A softer US Dollar at 93.41 drove all commodities and the consolidation phase may continue for another 2 or 3 sessions. PE


Gold at 1344.70, + 1.0% or 13.20 extending the rise to the target/resistance at 1350-60, which can be seen in the next few sessions.

Silver at 20.1, + 1.7%, or 0.34 moved higher with Gold, the Northside may be limited to 20.30-50 near term. 1st support now at 19.50.

Should Brent Crude at 47.25 above 48.00 and WTI Crude Oil at 45.82 fail to rise above 46.50 in here, then another pullback towards 45.00 and 44.00 is seen. Brent Crude Oil and WTI Crude Oil are ranged at 45.00-50.00 and 42.50-48.00 respectively. This consolidation may continue for a few days with no directional bias.

Copper at 2.20, +0.05, or 2.3% met our target/resistance of 2.20 and should face some selling pressure from that mark. A correction towards 2.15-14 near term cannot be ruled out before any further rise is seen.

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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