Chris Temple from The National Investor – Tue 7 May, 2019

Markets Selling Off, Trade Updates, and The Impact Of Upcoming European Elections

Chris Temple is with me today to look at the factors driving the US markets right now. Unfortunately it’s still a lot about trade and the assumptions around what tariffs will be put into place next. We also look at the US/Europe trade war and continued weak data out of the US.

Click here to visit Chris’s site and keep up to date on his calls.

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Comments:
  1. On May 7, 2019 at 10:00 am,
    spanky says:

    I still believe gold bottomed the week of the FOMC. Nevertheless, the miners are giving me a little bit of pause given how weak they are acting.

    Additionally, the miners are setting up to build out a H&S top if GDX can manage a rally back to the 21-21.50 level. I am 99% sure that the declining 50 dma will stop GDX dead in its tracks. Whether it makes a low low after that is really up to whether gold bottomed last week.

    • On May 7, 2019 at 11:35 am,
      CaliJoe says:

      This certainly is looking that way, isn’t it?
      One can draw some similarities: gold bottomed in December of 2015 but GDX kept muddling through until the second/third week of January 2016. Time will tell which way we go.. I have a feeling move will be on upside.

      • On May 7, 2019 at 11:51 am,
        Matthew says:
      • On May 7, 2019 at 1:03 pm,
        spanky says:

        They did a little more than merely muddling through, though. The two weeks into the low (week of Jan. 16th?) the miners got absolutely hammered and scared the last few longs into coughing up their shares. This all while gold was WELL off its Dec. 2015 low. Who the hell knows how this plays out. I am not counting on any rocket shot. I do not think the HUI will be able to stay above 170 before correcting back down into late summer. I hope I am wrong, it’s just how I see it. A lot of chart damage was inflicted over the last 3 weeks.

        • On May 7, 2019 at 1:23 pm,
          CaliJoe says:

          Plenty of time to buy when real moves occur. Keep in mind that pattern on Gold chart resembles a Cup and Handle – what we are going through is the “handle” correction. What follows now could be large moves in Gold.

  2. On May 7, 2019 at 10:08 am,
    OOTB Jerry says:
  3. On May 7, 2019 at 10:14 am,
    OOTB Jerry says:

    Ditto on the risk /reward…….

  4. On May 7, 2019 at 10:16 am,
    spanky says:

    While the HUI could rally up to the 170 level, I have my serious doubts about whether it can get through that level before late summer based on the weekly Ichimoku cloud. I think it is more than likely dead money until then (unless you consider a 10-20 pt move up worth trying to time and catch. I could be wrong on this, but I think the more realistic scenario is a frustrating sideways to down grind, especially once it gets back into the 160-170 zone.

  5. On May 7, 2019 at 10:18 am,
    cfs says:

    I did not realize Craig Paul Roberts had become senile.

    It may well happen that there is a government debt Jubilee, but, in my opinion, only a moron would expect that to help the citizens of the U.S.

    Ask Greek citizens if their quasi-debt Jubilee helped their country.

    • On May 7, 2019 at 11:18 am,
      OOTB Jerry says:

      If, you are going to have a JUBILEE……you can not go quasi … There was no JUBILEE, a jubilee is total forgiven

    • On May 7, 2019 at 11:21 am,
      OOTB Jerry says:

      The USA debt….is never going to be repaid……like the student debt…
      The banksters/fraudsters have everyone delusional….

      • On May 7, 2019 at 11:26 am,
        OOTB Jerry says:

        The Fedsters stole…….$25 TRILLION….and gave it to the TBTF…..there is no reason , why a debt jubilee can not be called in the case of FRAUD……
        There is no way , we should have 7 -15 banks running the SCAM…….

    • On May 7, 2019 at 11:48 am,
      OOTB Jerry says:

      Student DEBT and Suicide …….which is what is happening in GREECE…..
      all caused by FRAUD BANKERS…
      Even the dentist and thinking about suicide……
      https://www.zerohedge.com/news/2019-05-06/americas-16-trillion-student-debt-crisis-triggers-suicidal-thoughts-survey

  6. On May 7, 2019 at 11:16 am,
    OOTB Jerry says:
    • On May 7, 2019 at 11:55 am,
      OOTB Jerry says:

      Jubilee time for the farmers……….no more bills…..no more worrying about the loan on the overpriced tractor…….(which can only be repaired by the specialist John Deerey rip off artist)…No more getting sued by Monsanto for stealing beans that happen to get mixed up at the grain mill at the Pioneer Plant…..lol

      • On May 7, 2019 at 1:02 pm,
        b says:

        I doubt there will be any jubillee for anyone but banks.

        The U.S. is already a police state, i really find it interesting people dont see it or the fact the U.S. lives and breaths for Israel.

        https://youtu.be/1rwmD4c_NxI

        11 mins from the CrowHouse.

        Sad that all the warning in the world wont make 1 iota of dif.

        • On May 7, 2019 at 2:11 pm,
          OOTB Jerry says:

          The banks do not need a jubilee……..they are the ones that cause the need for a jubliee..

          • On May 7, 2019 at 2:14 pm,
            OOTB Jerry says:

            The police are going to find out , they are not immune from the revolt which is coming.

        • On May 7, 2019 at 5:05 pm,
          b says:

          Last time the banks were “saved”, they will be next time too.

          I dont see any revolt happening either, why revolt against the establishment that provides food stamps?

          Maybe watch that link I provided, people already put up with that, how much more would the gov have to do to get people to see whats happening?

          No revolts, people will stay in debt and the banks will remain as they are.
          (no matter what it costs the people)

          • On May 7, 2019 at 6:17 pm,
            OOTB Jerry says:

            You did not read ……Trump is deciding to cut back on FOOD STAMPS……..

          • On May 8, 2019 at 7:46 am,
            GH says:

            Obviously it won’t go on forever, b.

            Internet commentary everywhere is full of depressing comments like yours based on linear projections. I wonder how much of it is trolls working for the dark side.

            Despair is for losers.

          • On May 8, 2019 at 7:56 am,
            GH says:

            …though understandable in the face of massive denial of the evidence that has come to light in the last few years.

            We see it here with KER’s commander in chief. I regularly see Big Al refuse to believe what the evidence implies, yet also refuse to provide countervailing evidence or logic.

            I don’t see that getting us anywhere worthwhile.

            KER has a handful of really good commenters who get it. But they’ve (we’ve) been saying the same thing for years, as have the others.

            I think Korelin will talk in circles ’til the storm troopers are at the door.

            Matthew’s the smartest guy here, and he knows better than to engage in the political discussions here. I’m gonna try to learn that one from him as well.

            At the very least I’m going to look for a venue where the host understands that respectful exchange of ideas means that if you deny someone’s evidence and logic you need to provide countervailing evidence and logic, not just a statement of belief.

  7. On May 7, 2019 at 11:42 am,
    spanky says:

    GCC (unweighted commodity index) is setting up for a V-bounce, IMO. I base this on the ridiculously oversold 5 day RSI.

    If OTOH it proceeds to make a lower low 2 weeks or more out, it is probably going to get destroyed over the next few months. So, one of two extreme outcomes is about to play out, IMO.

  8. On May 7, 2019 at 12:26 pm,
    spanky says:

    For the love of god, can $gold clear $1289.40 and put in a swing low this week? Not a guarantee of a rocket ride even if we do, but it will almost 100% mean last week was the intermediate cycle low.

    • On May 7, 2019 at 12:33 pm,
      spanky says:

      It is interesting to note that at the last intermdiate cycle low in $gold, it didn’t complete a swing low until 8 weeks after making its low. That is extremely unusual behavior IMO. That allowed banksters to load up for two trading months. I don’t anticipate anything like that happening currently. We are going to get a swing low this week or next, or we are going to make a lower low soon. I think we get our swing low this week or next.

  9. On May 7, 2019 at 12:57 pm,
    spanky says:

    And right on cue, someone buys the hell out of the US markets in the last 30 minutes. Will probably closed unchanged lol.

  10. On May 7, 2019 at 2:59 pm,
    OOTB Jerry says:

    Everything is fine……..lol……..going to the buy back program…..

    Heard the guy that ran United Health Care…..made $1 BILLION last year….

    • On May 7, 2019 at 3:02 pm,
      OOTB Jerry says:

      He is shouting …..”Jubilee”…..for the con….You dummies with the Help of Obama and congress….and the rich are sucking the sheeple dry…..

  11. On May 7, 2019 at 6:18 pm,
    Markedtofuture says:

    Steele’s stunning pre-FISA confession: Informant needed to air Trump dirt before election

    https://thehill.com/opinion/white-house/442592-steeles-stunning-pre-fisa-confession-informant-needed-to-air-trump-dirt