Ed Moya - Senior Market Analyst at OANDA – Mon 21 Sep, 2020

Is this selloff enough to make the Fed do more?

Ed Moya joins me to share his thoughts on the broad selloff today. We discuss the major drivers that are outside just the spike in virus cases. Also considering if this move down will force the fed to do something sooner rather than later.

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Comments:
  1. On September 21, 2020 at 1:17 pm,
    cfs says:

    In the words of Nancy; the Fed has fired all the good arrows in its quiver.
    Those left in its quiver have weak bent shafts or have damaged fletching.

  2. On September 21, 2020 at 1:32 pm,
    Ebolan says:

    Alex Jones men shot by Kyle Rittenhouse all convicted felons/pedophiles

    https://www.youtube.com/watch?v=fK9Azip4pkk

    screwtube will definitely take this down

  3. On September 21, 2020 at 1:55 pm,
    OOTB Jerry says:

    Sell off was just a matter of time,,,,no one should be surprised……

    • On September 21, 2020 at 1:56 pm,
      OOTB Jerry says:

      Long term boys,,,,,,,gold going up……..period

      • On September 21, 2020 at 1:58 pm,
        OOTB Jerry says:

        I might be a gold tard, and go listen to Temple….. 🙂
        Phyz still looking good…….period

        • On September 21, 2020 at 2:00 pm,
          OOTB Jerry says:

          Phyz still up for the year bigly…….lol

  4. On September 21, 2020 at 2:02 pm,
    OOTB Jerry says:

    Platinum,,,,,,,needs to get a life…….

  5. On September 21, 2020 at 2:52 pm,
    b says:

    So much for up and away.

    • On September 21, 2020 at 3:02 pm,
      OOTB Jerry says:

      The markets are screwed up……..and anything goes……a lot of time left before year end….Gold ….Will be higher is my bet. Silver and Platinum is way behind.

      • On September 21, 2020 at 3:03 pm,
        OOTB Jerry says:

        are not is….

        • On September 21, 2020 at 3:34 pm,
          OOTB Jerry says:

          Gold sure not going back to $1307…………lol

          • On September 21, 2020 at 3:56 pm,
            OOTB Jerry says:

            $1913………not a bad number…..

  6. On September 21, 2020 at 3:40 pm,
    Buzz says:

    Chris Temple & Gary Savage amongst others got the sell off right

    • On September 21, 2020 at 3:53 pm,
      OOTB Jerry says:

      What was Gary’s number?

    • On September 23, 2020 at 6:02 pm,
      Excelsior says:

      I’d disagree, as Gary was about a month too early in expecting the selloff, and there were still good trades to be had. The fact that a correction finally came doesn’t make him right.

  7. On September 21, 2020 at 3:47 pm,
    OOTB Jerry says:

    Nobody said it was going straight up………

  8. On September 21, 2020 at 7:36 pm,
    Matthew says:

    Today was bad but probably not as bad as most think. SILJ made a new 6 week high versus SLV today which is impressive since the silver miners usually provide leverage to silver’s moves to the upside AND the downside.
    Since 8/26, SILJ was up as much as 16.5%+ vs SLV today as it hit MA and Bollinger Band resistance. That’s impressive because SLV is down 10% since 8/26. So the miners didn’t merely outperform, they went up when they typically would have gone down.
    It would be somewhat surprising if the whole sector doesn’t sell-off further tomorrow but I think this is ending action and not the start of a big, drawn-out move lower.
    SILJ:SLV daily:
    https://stockcharts.com/h-sc/ui?s=SILJ%3ASLV&p=D&yr=1&mn=0&dy=0&id=p73705609757&a=798299596

    I sold no gold/silver related shares today and will probably buy some if they fall hard tomorrow, especially if they gap lower at the open.

    • On September 22, 2020 at 5:46 am,
      Charles says:

      Looks like a giant inverted head and shoulders pattern.

  9. On September 21, 2020 at 7:41 pm,
    Matthew says:

    IPT hit .76 on 8/26 but only touched .90 today despite the fact that silver went much lower today than it did on 8/26. That’s a good sign even if IPT takes out .90 tomorrow.
    https://stockcharts.com/h-sc/ui?s=IPT.V&p=D&yr=1&mn=0&dy=0&id=p62043462136

    • On September 22, 2020 at 5:41 am,
      Charles says:

      I noticed that. ISVLF hit a key trendline that was hit back on August 26 also. It will be interesting to see if it the trendline holds.

  10. On September 22, 2020 at 6:16 am,
    Glenfidish says:

    I have maximum downtrend to be no more than 3 weeks if this is the case. So week of October 16 th would see a bottom. Approximately 10 weeks into this correction. This of course is if we have further to go.

    But this week could also see the bottom as Matt has pointed out the miners are not correcting as hard.. let’s see what gives.

  11. On September 22, 2020 at 6:30 am,
    Charles says:

    Agreed Glenfidish. Opening looks promising.

  12. On September 22, 2020 at 6:42 am,
    Charles says:

    A lot of my charts are telling me the miners will trade sideways while the physical metals trade lower over the next few weeks, which is consistent with Matthew’s SILV / SLV chart above.

  13. On September 23, 2020 at 7:49 am,
    David says:

    Bam!!! Take that unchosen few. Just another day of paper trading by sucker punch.