Market moves on the back on the US airstrike killing the top Iranian Commander
Kicking off today with Chris Temple and his thoughts on the war headlines driving markets today. The US ordered airstrikes in Iraq killing Iran’s top commander General Qassim Soleimani. Now the world is all waiting to see what the response will be. The market reaction is risk on selling off and risk off moving strongly higher. Just how sustainable are these moves going to be?
We also touch on the ISM and GDP numbers that were released this morning and overall disappointed.
Click here to read over the breakdown of the ISM and GDP numbers.
What US MSM is not telling you….
https://www.reddit.com/r/conspiracy/comments/ej94ym/breaking_us_marines_have_arrested_multiple/
During the second minute of trading today, GDXJ plunged 5% to fill what remained of the 12/26 gap.
https://stockcharts.com/h-sc/ui?s=GDXJ&p=D&yr=0&mn=9&dy=0&id=p59125286217
There’s been other signs of top-calling but I think the pullback might already be essentially done.
Bearing engulfing on GDXJ. Next week is not going to be pretty.
Based on the weekly chart and the fact that a lot of buyers have been waiting for a pullback, I bet any follow-through will be over before Wednesday.
Since next week will be the real first week of the year for a lot professionals as well as retail investors, I expect a lot more buying than selling.
After 8-straight sessions higher, gold is very likely to fall on Monday but that does not cause me to assume that the miners must fall.
A gold close below 1516 on Monday would not be good for the short term outlook.
https://stockcharts.com/h-sc/ui?s=%24GOLD&p=D&yr=1&mn=5&dy=0&id=p26210327826&a=678507175
Today’s high happened at an interesting spot since the dashed black line on the following chart was drawn in April…
https://stockcharts.com/h-sc/ui?s=GDXJ&p=W&yr=3&mn=9&dy=9&id=p34279862773&a=661502619
While looking at GDXJ charts, I stumbled on a good call from 2016 that I’d forgotten about…
https://stockcharts.com/h-sc/ui?s=GDXJ&p=D&st=2016-01-09&en=2017-07-11&id=p43640622153&a=470468032
The weekly chart has never looked so good…
https://stockcharts.com/h-sc/ui?s=GDXJ&p=W&yr=7&mn=7&dy=0&id=p66522076209&a=520905506
Matthew – Wondering if you are buying more Brixton today. I was hoping to add some more on a pullback, but my order on another stock did not hit.
Yes I did buy more today. Average price: .20625
It weakened going into the close so I hope you got a good price.
I didn’t get in Friday, but I got in this morning which was even better.
After thinking about it, I wonder if gold didnt move up more because the Chinese put money into their economy than american military action.
Its been a long time since military action moved gold.
I tend to agree partly with b…….
Looking at specific timing, it appears that about 2/3 of the last $20 move in gold was Shanghai buying, with a little help from both the US and Europe momentum players.
Silverbuying was a mix of China and US…..very little from Europe. Don’t know why….perhaps taxation differences on silver.
US air strikeS……..One raptor strike was it not?
I understand US marines (with blessings from Iraq government) are in the process of arresting MULTIPLE Iranian military leaders in Iraq.
Of course Iran will attempt to strike back…..what else is new ?