Is the Bond Market Collapsing -- Here's Nick's Take 10-04-23 #531
Listen now
Description
1. Markets are in a down trend and fear is starting to set in. Yesterday's JOLTS number was a little too hot to handle as good news was bad news once again. The major indexes are trying to gain some traction today, but it is off to a slow start. ISM services PMI came out weaker than expected. 2. There are a couple of positives for the markets today. 1. The US Dollar is finally pulling back. 2. Yields are also pulling back. This could help the markets to catch a bid from this very oversold condition. 3. This Friday is the non-farm payroll report by the BLS. That could be a market mover. Earlier today, the ADP Employment report indicated that private payrolls grew by 89,000 in September following a revised increase of 180,000 in August. 4. Oil is pulling back today trading lower by 3.00% to $86.50 a barrel. This pullback in crude was overdue. There will now be support around the $82.50 area on the daily chart. 5. Gold has been slammed recently on the back of the strong dollar. It does look as if there is some chart support around the $1820 area. Silver has been beaten up as well and this is weak again this morning. 6. Bitcoin is trading up a little today, but remember it still has that bearish pattern on the weekly chart. This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at https://www.spreaker.com/show/4295686/advertisement
More Episodes
This is perhaps our last show 1. Google, MSFT and AMD are leading the headlines today. They are all dropping after reporting earnings. Alphabet (GOOG) is the biggest loser falling by nearly 6.0%. This news is weighing on the NASDAQ which is trading lower by 1.17%. Like I said last week, these...
Published 01/31/24
1. It's a quiet start for the major indexes this Monday morning. While the indexes are higher they are just slightly positive. 2. This Is a huge week for earnings. Mega cap stocks such as MSFT, AAPL. AMZN, META, and AMD are all scheduled to report this week. 3. Oil,nat gas and energy are...
Published 01/29/24