Look At What Is Happening With Gold, Stocks, US Dollar & Canadian Stocks
Look At What Is Happening With Gold, Stocks, US Dollar & Canadian Stocks from King World News
TDC Note – Are both precious metals, gold and silver, preparing for a fall rally? If our economy, geopolitical situations and social unrest continue along the current path, anything is possible, including the metals making a dramatic entrance as the leaves begin to turn.
With almost everything heading higher today, outside of the dollar, look at what is happening with gold, the dollar and Canadian stocks.
Total Market Index Update
By Andrew Adams, at Raymond James
July 12 (King World News) – I have not featured the Wilshire 5000 Total Market Index in a while, but it is currently in danger of breaking the steep uptrend since the early November. However, it’s likely a little too soon to panic because the 25,000 level looks to have a history of importance this year and may help boost the index back up. It also has a ways to go before it breaks its larger uptrend from the 2016 low, so, again, a possible red flag in the short-term does not mean we should be waving the white flag on the bull market.
Canadian Stocks May Finally Be at Good Buy Point
The S&P/TSX Composite Index has naturally struggled recently with commodities like oil and gold being under pressure. Yet, the pullback has now brought the index down to a double support zone created by horizontal support at the previously important 14,875 area and the 23.6% Fibonacci retracement of the January 2016 – February 2017 move. Obviously, a real turn-around may have a lot to do with what oil and gold do in the next few weeks, but the dual support zone is promising.
King Dollar Not So Mighty
Global investors will be watching the U.S. dollar here to see if it can find some strength after a steady downtrend since the beginning of the year…