5 Things on Gold & Yields before more Powell
Friday's plunge in yields was just as notable as the preceding gains. As Fed chair Powell gears to speak next Thursday about the economy, here are the things im watching: 1) favourite of mine involving an overlay of HUI gold miners, suggesting major developments in XAUUSD (i will share these with the WBG next week); 2) The same applies to the Gold/SPX ratio, showing similar technical positives to the patterns of 2001, until support gave up these past two weeks. 3) Friday's candles in 2 and 10 year yields suggest neutral-negative moves early in the week, but it is the midweek-Thursday that Im concerned about. 4) USDJPY knived through its 200-DMA and its 55-WMA, calling for 107.20 as a short-term target. Our WhatsApp Broadcast Group entered this pair back in 104.60s. 5) Those who trade indices have seen the balant manner in which the jump in yields and oil boosted the DOW30, before their sharp Friday pullback dragged down the index, while supporting NASDAQ. We were active throughout the week with our WhatsApp Broadcast Group (WBG), sharing trades/analysis on DOW30, Nasdaq, XAUUSD, USDJPY, EURUSD and GBPUSD. Tune in for more next week. This is far from over.
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