15-Month Range Support Once Again Tested, Russell 2000 Bulls Unable To Rally Off Of ’23/’24 Optimistic Earnings Estimates

posted in: Credit, Economy, Equities, Technicals | 0

Small-cap bulls once again were forced to defend the lower bound of the 1700-1900 range in place since January last year. The Russell 2000 just does not respond to the optimistic growth forecasts in earnings for this year and particularly … Continued

Gold At Crucial Support – Dollar To The Rescue Near Term?

posted in: Currency, Derivatives, Technicals | 0

Once again, spot gold ($1,305.60/ounce) is testing crucial support.  The US dollar can help, at least near term. The yellow metal has pretty much been range-bound for two years now – between $1,300 and $1,360-70.  Most recently, the upper bound … Continued

Gold Pushes Past $1,300 – Dollar, Non-Commercials Likely Decide Next Direction

Gold shows nice price action, just broke past $1,300/ounce, and has room to rally further, particularly if non-commercial futures traders continue to keep the faith and/or the U.S. dollar weakens further. Most recently, the yellow metal bottomed at $1,238.30 on … Continued

US Dollar Index Completes H&S Target, Sits At Fib Support, Nears 2 ½-Year Horizontal Support

posted in: Currency, Derivatives, Technicals | 0

Dollar bulls are staring at yet another opportunity to step up and defend support. The U.S. dollar index rallied 13 percent between 91.88 in May 2016 and 103.82 early January this year, which was the highest since December 2002.  Since … Continued