Key US Stock Indexes, Crude, Gold and Silver Markets Briefing

Key US Stock Indexes, Crude, Gold and Silver Markets Briefing

Key DJIA, Crude, Gold and Silver Markets Briefing

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

Commentary: Almost all stocks are now trading in the Red. We may have seek confirmation of a break below interim supports Wednesday to become Bearish near term.  the Fed ended its 2-day meeting Wednesday, the rate remained the same as they jawboned a December rate hike. PE

DJIA at 17,959.64 has come down to re-test Key support at 18000 and broke it. It had difficulty in breaking below 18000 since the last 2-months and the inability to do so near term could produce a sharp bounce to the Northside. But a clear break takes the index to lower levels of 17900-17,700 medium term.

The CBOE Volatility Index (19.10, +0.54, +3.0%) is up 3 points from last Friday’s settlement, showing that volatility expectations are on the rise.

DJIA -77.46 at 17959.64, NAS Comp -48.01 at 5105.57, S&P 500 -13.78 at 2097.94

  • DJIA +3.1% YTD
  • S&P 500 +2.6% YTD
  • Russell 2000: +2.5% YTD
  • NAS Comp +2.0% YTD
Symbol Last Trade Date Change Open High Low Volume
NYSEArca:DIA 179.35 2 November 2016 -0.77 179.66 180.21 179.05 3,552,700
HeffX-LTN Analysis for DIA: Overall Short Intermediate Long
Neutral (-0.19) Neutral (-0.24) Bearish (-0.44) Neutral (0.12)

As I write this report the DJIA mini Dec futures are trading at 6:33a EDT Dec 2016 17,905.00 +24.00

 

Crude Oil, Gold, Silver & Copper Market

Commentary: Precious metals have risen sharply while Copper has tested important resistance and could see some downward correction near term. Crude Oil has come down sharply too, but is testing interim support at current marks. Need to see if Crude Oil bounces back to join the up move with the precious metals or come down to join the fall in Copper.PE

  • December Gold ended Wednesday’s session +20.60 (+1.6%) to 1308.00 oz a break above the interim resistance.
  • December Silver closed today’s session +0.28 (+1.5%) at 18.69 oz, Silver is targeting 19.0-19.5 marks
  • December Crude Oil futures fell 1.37 (-2.9%) to 45.31 bbl, targeting 42-39 bbl next.
  • Copper: -0.31% to 2.221 lb dipped from a high of 2.2365 which seems to be a strong resistance and could hold in the near term. A fall towards 2.20-2.18 can be expected in the coming sessions.

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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