Some Key Comments Made By Powell Today!

January 4, 2019

A significant reversal day for a wide range of markets. Very good job numbers and a dovish speech by Powell now has markets and base metals rallying, with the dollar and treasuries falling. Chris Temple joins me to breakdown why Powell’s comments were very important for what now to expect out of the Fed and market direction.

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Click here to visit Chris’s site, The National Investor.

    Jan 04, 2019 04:57 AM

    Considering the news, the stock market’s response to that news, and the short term toppy-look of the miners, the miners have held up very well…

    Jan 04, 2019 04:59 AM

    Stocks are finally back-testing their double-top neckline:

    Jan 04, 2019 04:04 AM

    The jobs numbers and the Federal Open Mouth Committee cannot reverse the new stock bear or dollar weakness.

    Jan 04, 2019 04:26 AM

    A big fall is still coming for the dollar versus gold:

    Jan 04, 2019 04:06 AM

    Hi Matthew – What are your thoughts on ISVLF and USAS right now. I seem ISVLF getting up to $0.30 or a little higher this round and then trade sideways to down for a while to form an inverse head and shoulder, but like to get your thoughts as it seems like a lot of pent up energy which might propel the stock higher.

      Jan 04, 2019 04:35 PM

      The very short term is particularly hard to call right now for both the metals and the miners but I think your guess is a good one. It is true that daily chart sell signals don’t always result in a falling price during bull moves (due to the strength of the weekly chart), but some roughly sideways action does seem likely now. Of course, one hallmark of bull markets is upside surprises and we could get one if the dollar finally takes an abrupt dip. It looks poised to do so but that “look” could persist.
      You might remember how Claude Resources constantly went higher despite daily chart oscillator sell signals. A lot of people lost their positions because they didn’t change the way they used their charts to compensate for such a powerful advance. That kind of is probably not here yet but it will be.
      I like both ISVLF and USAS here and think any weakness represents a great longer term opportunity. I’m convinced that both have seen their intermediate (2018) and long term (2016) lows, for what that’s worth.

    Jan 04, 2019 04:38 PM

    Thanks for your thoughts Matthew.