Wednesday, February 01, 2012 Stock Market Commentary: Stocks and a slew of other risk assets enjoyed solid gains on the first trading day in February. From our point of view, the major averages confirmed their latest rally attempt on Tuesday 1.3.12 which was Day 9 of their current rally attempt. It was also encouraging to…
Friday, December 30, 2011 Stock Market Commentary: Stocks ended the final trading week of the year lower as 2011 finally came to an end. Hopefully, 2012 will be a better year for U.S. equities and risk assets. From our point of view, Friday marked Day 8 of the current rally attempt which means the window…
NEW YORK: Gold’s 20-day moving average falling below its 200-day and its brief foray into a bear market suggest momentum has turned bearish and a further pullback could be on its way. Bullion’s 20-day moving average (DMA) dipped below its 200 DMA on Thursday, in what technical analysts termed a “death cross,” as short-term momentum…
By Frank Tang NEW YORK (Reuters) – Gold rose two percent on Friday in a rebound rally, boosted as the euro rose against the dollar and as investors covered short positions the session after the metal hit a six-month low and briefly entered bear-market territory. Bullion is heading for a gain of around 10 percent…
Thursday, December 29, 2011 Stock Market Commentary: Stocks opened higher after the latest round of economic data was announced and an Italian bond auction came in below the worst case scenario that many pundits were worried about. From our point of view, Thursday marked Day 7 of the current rally attempt which means the window…
By Frank Tang NEW YORK (Reuters) – Gold fell in light holiday trade on Tuesday as technical weakness, options-related selling and a lack of fresh economic news failed to stimulate buying interest in the final week of the year. Selling related to the expiration of U.S. January gold options, which weighed on bullion despite rallies in…
The following was from my twitter feed (to get live access, simply follow @adamsarhan) on 12.29.2011 1. @adamsarhan One of the strongest correlations remains: S&P500/ $XLF (financials ETF) = +97.5%! 2. @adamsarhan Another very strong correlation is SP500/Crude Oil= +95.2%! 3. @adamsarhan However: Euro/Gold correlation remains very strong at nearly +90% 4. @adamsarhan SP 500/Gold correlation has…
Wednesday, December 28, 2011 Stock Market Commentary: Stocks spent most of the day in the red after a report showed that European banks deposited a record amount of cash with the European Central Bank (ECB). From our point of view, Wednesday marked Day 6 of the current rally attempt which means the window is now…
Tuesday, December 27, 2011 Stock Market Commentary: Stocks opened the shortened holiday week higher after the latest round of U.S. consumer sentiment topped estimates. From our point of view, Monday marked Day 5 of the current rally attempt which means the window is now open for a new follow-through day to emerge [as long as…
Friday, December 23, 2011 Stock Market Commentary: Stocks ended the week higher after the ECB lent nearly 500B euro’s to troubled European banks to help prevent a credit crunch and the latest round of U.S. economic data topped estimates. From our point of view, Friday marked Day 4 of the current rally attempt which means…