E Daily Markets Forecast Outlook – Thursday, Jan. 12

Thursday Market Commentary – January 12, 2017

Stocks Hold to Buy – Forecast remains the same from Monday. The forecast for the major market indexes still higher for the time being. The Nasdaq has the strongest momentum currently and would be the best place to trade long right now. 

Bonds Hold to Buy Near-Term Possibly Sell Long-Term – The forecast for the 30 Year and 10 Year T-Bonds is still for a higher upside correction bounce, but now that the upside bounce has happened, price’s could now consolidate to correct a little lower before heading higher again. Longer-term the forecast is down. No confirmation on a longer-term sell signal yet.

US Dollar Sell Near-Term – The forecast for the US Dollar today is down short term as previously forecasted. The USD index forecast to the downside is 99.43 to 100.00. Major resistance and stop-loss price if you are going to short the USD index has been lowered to 102.95 from the previous upside resistance of 103.00. 

Gold Silver Hold to Buy Near-Term / Possible Long-Term Buy – Gold has now hit the 1200 price area as previously forecasted. Major support is 1122.98 now. Watch a potential pullback to 1170 – 1160 area for a low-risk high-reward long-term buy position or a continuation above current resistance of 1200 to 1205. A pullback like this and subsequent support would suggest an extended higher price move longer term. No confirmation on a longer-term buy signal yet. Click the following link for “A Bullish and Bearish Gold Forecast”