nysearcagld
The S&P 500 is blooming, while gold cannot hide its weakness. Both have an impact on junior miners, but which lead will gold stocks follow? It’s Fed decision day! Will the rally in stocks continue? Will miners follow stocks higher or gold lower? Charts provide hints. Let’s start with something that usually happens at this time of the month. The USD Index tends to reverse its direction. Q3 2022 hedge fund letters, conferences and more It seems that’s exactly what we saw recently. The USDX dipped below its 50-day moving average, and each time that happened since mid-2021, it meant that a bottom ...
ValueWalk
S&P 500 decline on the disappointing CPI – especially core inflation points at more to come, and the better PPI figures don‘t make up for that. So, stocks reversed sharply lower – but not before our profitable long position was closed – and the tone for the rest of the week was set. Friday though was marked by buying the dip in the second half of the session, and the risk-on turn in bonds facilitated that. I wouldn‘t though be getting too carried away with the reversal as the bears haven‘t said the last word – I consider the rebound on high volume as a temporary reprieve in selling only. Q2 20...
ValueWalk
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