US Market Drivers – Big Tech Earnings, China attacking its own companies, and the Covid variants

July 27, 2021

Joel Elconin, Co-Host of the Benzinga Pre-Market Prep Show joins us for a discussion focused on the main drivers for the US markets. In this slower market we are hearing some recycled stories that include Covid (now variants) and big tech. What’s new is China taking to the offense against it’s own companies.

Click here to visit Joel’s site – Pre-Market Prep

    Jul 27, 2021 27:49 AM

    Gold Is About To Make A Big Move

    by @Goldfinger – 27 Jul 2021

    “Gold has spent much of the month of July oscillating around the $1800 level. In fact, in the last week gold’s trading range has narrowed to the point that it is moving less than 1% per day”

    “Predicting the direction that gold will move next is always challenging; one can make the case that August is typically a bullish month for the yellow metal (gold has risen roughly 2/3rds of the time during August in the last twenty years for an average monthly gain of 2%). However, one could also argue that seasonality is much less important this year considering the number of unknowns including the future course of the pandemic and Fed monetary policy.”

    “What I do know is that it is unlikely that gold will remain pinned to $1800 for much longer, and with each passing day it becomes increasingly likely that we will get a strong directional move, either above $1850 OR below $1750…”

      Jul 28, 2021 28:25 AM

      Gold And Silver – Which Will Have An Explosive Price Rally And Which Will Have A Sustained One?

      July 26, 2021 – Chris Vermeulen – The Technical Traders

      “The Yellow trend line acts as key market support resulting in a Wave 1 & Wave 2 setup. Gold is currently rallying into a Wave 3 rally phase which my team and I believe will prompt two unique rally peaks over the next 24+months. The first with a high price near $2400 and a second with a high price near $2775. The first upward price wave will likely peak near the end of 2021 or in early 2022 and the second upward price wave will likely peak near Q3/Q4 of 2022.”

    Jul 27, 2021 27:28 PM

    China Sends Ripples Across the Markets

    Marc Chandler – July 27, 2021

    “It is not China’s aggressive foreign policy that is the source of the disturbance in the capital markets, but its aggressiveness at home as it asserts control parts of the tech sector and toughens its anti-trust efforts. Hong Kong shares are bearing the brunt. The Hang Seng has fallen by 10% in the three sessions, including today. The Shanghai Composite is off nearly 5.5% in the same period.”

    “Beijing is fighting a two-front battle. Domestically, the new drive that began last year with the Ant IPO and crackdown on Alibaba has broadened. Stronger regulatory efforts, anti-trust, and IPOs in foreign markets, and now private education companies are killing the proverbial goose that lays the golden egg by underscoring international investors’ concerns about investing in China. The capital inflows were to create conditions under which Beijing could ease capital outflow restrictions. The other front of the battle is in foreign policy. Yesterday’s high-level meetings with the US appeared to have failed to break new ground. While reports suggest that there is still scope for Biden and Xi to meet in October, with the March and July contentious meetings, the chances of an agreement seem remote.”

    Jul 27, 2021 27:34 PM

    Gold: Reinflation For The Nation Or Stagflation

    Jul. 27, 2021 – Equity Management Academy – Seeking Alpha

    “We have fast markets across the board today, primarily in the digital assets, such as Bitcoin, Coinbase and the Grayscale Bitcoin Trust (OTC:GBTC). We are looking at a reversal across the board. Amazon has announced it will begin to accept payment in crypto currencies, which is big news.”

    “Gold has been fluctuating from the Variable Changing Price Momentum Indicator (VC PMI) average price all the way up to $1812. It completed a bullish pattern and then reverted back to about $1803. The volatility appears to be in silver, which is showing a stronger bias. It is also trading around the VC PMI daily average price. Copper is up 4 percent, which is a big move for copper. We are trading above the VC PMI Sell 2 level, which means the market is looking for higher fractal prices.”

    Jul 28, 2021 28:35 AM

    Thanks Ex.

      Jul 28, 2021 28:04 PM

      Thanks for saying “thanks” Biggus.

      Just sharing a few perspectives from others for investors to consider. Cheers!