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

Commentary: Disappointing US retail sales and US factory output narrowed chances of a US Fed rate hike in September to 18%, thus boosting investor risk off sentiment in here. PE

DJIA at 18212.48, +0.99% is holding above the Major support of 18000-17850, DJIA must break above 18300-550 to negate the new Southside bias, expecting some sideways action over the next few sessions.

DJIA+177.71 at 18212.17, NAS Comp +75.92 at 5249.69, S&P 500 +21.49 at 2147.26

Volume: Trade was moderate with about 817-M/shares were exchanged on the NYSE

  • Russell 2000: +7.9% YTD
  • S&P 500: +5.1% YTD
  • NAS Comp: +4.8% YTD
  • DJIA: +4.5% YTD
HeffX-LTN Analysis for DIA: Overall Short Intermediate Long
Neutral (-0.05) Neutral (-0.06) Bearish (-0.40) Bullish (0.29)

As I write this report at 7:09a Friday, 15 September the DJIA mini Dec 2016 futures are at: 18,039.0, -76

Crude Oil, Gold, Silver & Copper Markets

Note: Except for the industrial metals, all commodities are weak in here.

Gold at 1313.99 moved lower, as lower safe haven demand and anxiety over the coming central bank actions keep the participants away. The support of 1310-1300 is expected to hold for the next 1-3 sessions.

Silver at 18.9590 is ranged between 18.75-19.30 for the last 5 sessions, it can expand to 18.50-19.30. At 18.50 buyers will come in.

Brent Crude at 46.32, and WTI Crude Oil at 43.66 trading at lower end of their ranges of 45.00-50.00 and 42.50-47.00 respectively, and since no new developments or data is expected in here, they will be ranged.

Copper at 2.1620 extend gains after the Chinese demand boost, see test at 2.20 – 2.25 near term. 1st support is at 2.12.

Stay tuned…

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