Thursday Market Commentary – January 05, 2017
Stocks Hold to Buy - The major market indexes have continued higher as previously forecasted but now the advance is forecasted to slow and within a tighter back and forth range for the time being.
Bonds Buy Short-Term Sell Long-Term – Forecast remains the same. The 30 year T-Bond has been rebounding as previously forecasted. Watch the 153 price area or higher before entering new short positions.Â
US Dollar Index No Trade Recommendation Yet – Forecast remains the same but with possible near-term upside bias. The US dollar index forecast is not totally clear yet currently. 101.91 is current major support. With a majority of US dollar bulls there is near-term upside bias with the possibility for a stronger sell-off short to intermediate term out.
Gold Silver Buy Short Term – Gold and silver have continued to rebound as previously forecasted. Near-term resistance is 1200 to 1205 with major support at 1122.98. The possibility exists now for much higher price longer term but no long-term forecast is clearly seen yet. Click the following link for “A Bullish and Bearish Gold Forecast”Â
