Medium Term ~ Bearish– Gold needs to close above 1294 on a weekly and monthly basis for bullish outlook.
Intermediate Term ~ Neutral-resistance met at 1256 target (1252-1262) Odds favor a pullback is in play. GLD is the only holdout where it is above the averages.
Short Term ~ Bearish -But odds favor short term peaks this week with pullback into 1st week of November. Pullback may have already begun. Can’t rule one final spring higher but odds are we turn down from there or already have into Nov 7th.
Initial Resistance 1235-1245 2nd tier 1249-1254
Initial Support 1218-1226 2nd tier 1202-1211
The last update listed 1235-1245 as resistance and the high was 1236.
Support was 1218-1226 and the low was 1222.
There has hardly been any action this week as gold is in a quandary as to just what it’s next move should be. But the FOMC meeting results on Wednesday should be the end of the trendless price. Price will most likely spike on both sides and then odds favor we end up lower as we move towards November 7th. We won’t rule out a pop, but odds favor it doesn’t last.
In the absence of a major event we would anticipate that the Fed will go ahead and end QE and will also talk in hushed words about the timing of an interest rate increase. Historic Short Squeeze, Biggest In 3 Years, Sends Small-Caps Soaring; Dow Tops 17,000
Submitted by Tyler Durden on 10/28/2014
Forget "Free Trade" - Focus On Capital Flows
Submitted by Tyler Durden on 10/28/2014
US Homeownership Rate Drops To 1983 Levels
Submitted by Tyler Durden on 10/28/2014
The last time US homeownership declined down to 64.4% (which the Census Bureau just reported is what US homeownership declined to from 64.7% in Q2), was back in the fourth quarter of 1983.
Here Is The Reason For The Surge In Consumer Confidence
Submitted by Tyler Durden on 10/28/2014
Core Capex Drops Most Since January; Durable Goods Orders Slide, Miss By Most In 2014
Submitted by Tyler Durden on 10/28/2014
The gold chart
We either turn at 1218-1222 is the next and Monthly Support is 1202-1206, then 1180. The pattern from the lows while certainly not bearish did have a lot of overlap on those dips. It wasn't a pure impulse wave. On this four hour view, nothing has changed yet. We’re still in the downtrend channel from the July high. The numbers derived above are from the red uptrend lines you see on the chart. Expect strong resistance at 1237-1243 on Monday.
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There has hardly been any action this week as gold is in a quandary as to just what it’s next move should be. But the FOMC meeting results on Wednesday should be the end of the trendless price. Price will most likely spike on both sides and then odds favor we end up lower as we move towards November 7th. We won’t rule out a pop, but odds favor it doesn’t last.
In the absence of a major event we would anticipate that the Fed will go ahead and end QE and will also talk in hushed words about the timing of an interest rate increase. Historic Short Squeeze, Biggest In 3 Years, Sends Small-Caps Soaring; Dow Tops 17,000
Submitted by Tyler Durden on 10/28/2014
In a strangely familiar case of deja vu all over again, stocks surged
(alone in the cross-asset class world of economic reality) on the day
before an FOMC statement. The Russell 2000 has had its best 10-day run
in 3 years, best day of the year, and managed to scramble back to its
100- & 200-day moving-average. Dow 17,000 was another key technical
level that was achieved. S&P 500 was levitated on volume around 40%
below average into the green for October. VIX was banged under 15 and
tracked stocks. Away from the equity-vol complex, asset-classes were
unimpressed - HY credit, bonds, JPY, and the USD all diverged from
stocks. USD weakened slightly, and commodities all gained on the day.
TSY yields were up 2-3bps and HY closed practically unchanged. "Most
shorted" stocks rose almost 3% - the biggest squeeze since Dec 2011 -
smashing the Russell 2000 higher.
Forget "Free Trade" - Focus On Capital Flows
Submitted by Tyler Durden on 10/28/2014
In a world dominated by mobile capital, mobile capital is the
comparative advantage. Mobile capital can borrow billions of dollars (or
equivalent) in one nation at low rates of interest and then use that
money to outbid domestic capital for assets in another nation with few
sources of credit. Mobile capital can overwhelm the local political
system, buying favors and cutting deals, all with cash borrowed at
near-zero interest rates. Mobile capital can buy up and exploit
resources and cheap labor until the resource is depleted or competition
cuts profit margins. At that point, mobile capital closes the factories,
fires the employees and moves on.
US Homeownership Rate Drops To 1983 Levels
Submitted by Tyler Durden on 10/28/2014
The last time US homeownership declined down to 64.4% (which the Census Bureau just reported is what US homeownership declined to from 64.7% in Q2), was back in the fourth quarter of 1983.
Here Is The Reason For The Surge In Consumer Confidence
Submitted by Tyler Durden on 10/28/2014
Last month's sudden plunge (and biggest miss since Jan 2012) in
Conference Board consumer confidence merely enabled an even bigger
bounce this month. Consumer confidence surged to 94.5, its highest since
October 2007, beating by the most since April 2013 (amid Ebola
outbreaks). While the current situation was relatively flat, the surge
in the headline data was purely due to a huge spike in future
expectations from 83.7 to 95.0 - the highest since Feb 2011. Oddly,
fewer people are likely to buy a car, major appliance, or house in the
next 6 months but survey respondents expect a surge in incomes?
Core Capex Drops Most Since January; Durable Goods Orders Slide, Miss By Most In 2014
Submitted by Tyler Durden on 10/28/2014
It was just 2 months ago when the one-off Boeing order-related idiocy
distorted the entire time series and was thus extrapolated into escape
velocity dreams by prognosticators everywhere. Excused by the
cognoscenti as a "volatile time series," Durable Goods new orders
dropped 1.3% MoM, missing expectations by the most since Dec 2013 and
negative for the 2nd month in a row. Lats month's drop was revised lower
also. Even more concerning is the 1.7% drop MoM in Core Capex, the
biggest miss in over a year and biggest drop since January.
The gold chart
We either turn at 1218-1222 is the next and Monthly Support is 1202-1206, then 1180. The pattern from the lows while certainly not bearish did have a lot of overlap on those dips. It wasn't a pure impulse wave. On this four hour view, nothing has changed yet. We’re still in the downtrend channel from the July high. The numbers derived above are from the red uptrend lines you see on the chart. Expect strong resistance at 1237-1243 on Monday.
M Samer Al Reifae
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Master Introducing Broker in Romania at HiWayFX
samer@hiwayfx.com
+40 734 277 757
https://www.facebook.com/LORDOFTRUTH
https://www.facebook.com/FollowTheRaw
https://www.facebook.com/groups/vantagefx/
https://www.facebook.com/groups/833567363342950/
https://www.facebook.com/groups/502852726444007/
http://lordoftruth.blogspot.com/
https://plus.google.com/+msameralreifae
https://twitter.com/thelordoftruth
http://4xplanet.com/
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This signals are delivered thru whatsappp +6018.341.2014
I was trading with a lot of brokers, and recently moved to HiWayFx.
Amazing service
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Unbeatable spreads, as low as 0 pips
No Dealing Desk (NDD) execution model.
No re-quotes from dealers, no dealer intervention & no execution delays
Trading during news allowed
Scalping allowed
Personalized technical and customer service support
Start trading with a minimum deposit of only $20
It is very important for to trade with fast order’s execution, I had opened Standard NDD Account And I was pleasantly surprised by the quality of order’s execution.
I trade with this broker within few weeks.
I like everything, so far.
I feel comfort and confidence with HiWayFx, this company always ready to help you in different situation (closing of the order, bonus conditions or just fast withdrawal). I don't have any problems with trading, even on news.
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YOU SHOULD NOT TAKE ANY MATERIAL posted on this BLOG AS RECOMMENDATIONS
TO BUY OR SELL GOLD OR ANY OTHER INVESTMENT VEHICLE LISTED.
TO BUY OR SELL GOLD OR ANY OTHER INVESTMENT VEHICLE LISTED.
Do your own due diligence.
No one knows tomorrow's price or circumstance.
I intend to portray my thoughts and ideas on the subject which may s be used as a tool for the reader.
I do not accept responsibility for being incorrect in my speculations on market trend.
I intend to portray my thoughts and ideas on the subject which may s be used as a tool for the reader.
I do not accept responsibility for being incorrect in my speculations on market trend.
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