Market Insight & Commentary July 28, 2019

The Trading Daily Market Commentary features a summary of selected market segments as well as economic matters. Its content of interest is made available to all traders and investors at large

The stock market concluded the week higher with the broader S&P 500 index surging 1.7% and Nasdaq Composite rising 2.3% establishing new historical record highs in the means. 

Upbeat equities earnings results reporting during the trading week and a reassuring first look into Q2 Gross Domestic Products (GDP) supported the market continues the upward trend.

The DJI increased only 0.1%, undercut with an 8.6% weekly deterioration of Boeing shares amid continuing company - 737 MAX problems. The small-cap Russell 2000 advanced 2.0%. 

The Russell Index completed its journey towards Inner Index Rally 1582 after a steady to higher from Mean Sup 1544. Currently, the Index is at weak Mean Res 1581: Positioned to perform next leap to relatively stable Key Res 1616 and ultimately will take us to the Outer Index Rally 1625.

Broader S&P 500 index companies have now released more than 40% of their earnings data, and the majority of the results reported this week proceeded to post much better numbers than expected. 

Alphabet Inc. beat expectations, and its shares rose more than 10% the following trading session. However, traders and investors were not satisfied, with lukewarm revenue model coming from Amazon, and Facebook.

The communication services of the S&P 500 sector improved by 4.6%, which is base to Alphabet Inc., was this week's downright Wall Street leader. The financials stocks climbed 2.7% and following suit information technology sector went up 2.4%, while the utilities and energy finished a lower with minus 0.6% respectively.  

In another matter, the DOJ (Department of Justice) declared a full antitrust review into the "market-leading online platforms" this week. Traders and investors did not seem too concerned regarding the regulatory overhang, nevertheless, amid the confident attitude in the markets. 

The Bitcoin market

The Bitcoin market has been trading at a rather very narrow price range in the past five days, being held beneath the $10,000 price level and following the trail of a weak rising short-term completed Inner Coin Dip. 

The leading coin is presenting clear hints of short-term relative re-grouping, as it consolidating to response to Friday's rally try, which offers a price take-off more likely in the coming trading days. 

While the leading coin has been the boss for a long while, now, a dip below the Mean Sup $9,422 level would be a clear short-term bearish indication for the whole crypto market segment.

While a significant down move has been evaded so far, a collective movement to new price lows could ignite a dip towards the structurally important Key Sup $7,820, as the long-term trend setup continues to be bullish.

TSS trend model remains on neutral signals at this time, with Inner Coin Dip $8,175 and $7,385 levels found respectively, while the upside target will be a Maginot $10,000 line, and Mean Res $10,800.

The Gold market

Gold trading summer stagnation becomes an inverted pattern. Historically the summer months present a metal buying opportunity in the precious metals market. However, thus far this summer, though, Yellow metal has cut out of the tradition by setting in a robust July trading month.

Gold trading typically delivers investors, dealers, and theorists a break at some point in the summer months. However, this year is demonstrating there is no time to take your outmost attention off the metal market. 

If this year the Gold will present us with an old school summer quiet trading, it will not seem much like a cut at these prices.

With a range of geopolitical and economic issues preying on traders and investor psychology - especially at the institutions and funds which have fed the upside prices this year - the 2019 summer season might go down as one of those years when we avoid the seasonal slowdown.

The Yellow metal hit a low of $1178 in the middle of August in 2018, and then by December 31st of the same year, it was trading steady at the $1280 price mark.

Currently, the Gold is in steady to lower movement possibly heading towards Key Sup $1405, and with further technical breakdown might perhaps address Maginot line marked at $1285.

Gold confiscation 

Many TSS patrons ask us whether we think the Government will confiscate its citizens' Gold. We do not believe so. If the Government wanted money, it would go where big money is, which is in the 401Ks or pension funds. 

Funds from them will be taken and, and then they will fund Government Bonds or even IOU's obligations. 

We believe America's and the world best days are coming and the likewise this goes for the precious metals sector. Our wish is that our loved ones and our readers are all having peace of mind at this time. 

Sadly, the fake news in the print publications and on television does not promote peace of mind.  

However, we gather that once the chic of sober news passes, the souls of the world will relax and appreciate the peace of mind at last. 

The right way to strip the narrative handlers of their powers to form our sense of normalcy is to formulate an image of a wise and healthy world for ourselves individually and to stay with it all times - Peace, Love, Joy, Health, Understanding, and Freedom to all.


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