COMMODITIES OUTLOOK
09.58
I have read various reports lately predicting a big boom in commodities in 2013. Further US monetary largesse and better-than-expected global growth are the most obvious likely drivers of such strength. More esoteric influences cited include sunspot activity and the ending of the Kondratieff “winter” period. I do happen to believe that gold and silver will resume their bull market this year, having been in a corrective phase since 2011. For now, though, there is no sign of this, and I am looking for intraday short positions in these two materials
for analysis of some leading commodities and EURUSD.WALL STREET OUTLOOK
12.48
It’s all too common to come back to work in the New Year feeling like a bear with a sore head, depending on how hard you partied to see out the old year. Still, the average hangover is nothing compared to the soreness that stock-market bears experienced yesterday, as Wall Street powered back to life. And, for those who are intent on sticking to their pessimistic guns, I believe there is plenty more pain in store as the year unfurls.
The Dow Theory has given a buy-signal. According to this discipline’s most successful and scientific practitioners, yesterday’s action changed the primary trend from downwards to upwards. I had never paid much heed to early November’s sell-signal, believing it most likely to be a red herring. That belief seems to have been borne out, as the US indices began to recover from around the middle of November.
Wall Street is currently somewhat overbought on an intraday view, but a small correction can deal with this and set up the next buying opportunity.
for analysis of the US indices.
