A Market Recap

GCNYNF-M 7-22-2014

 

The Markets are being bombarded from every direction fundamentally. The confusion is rising and so will the volatility. The euro is gradually declining, the stock market keeps holding, gold really cannot get out of its own way, and the 10 year rates remain low even in Germany. Capital is confused every which way from Sunday. Within Europe, people are buying the Germany assuming they get Deutsche marks when the Euro goes kaput. Others are still shifting to the States for diversification. Then we have rising bank fears so many in the big money crowd are also shifting to equities, and we have central banks buying equities to diversify from purely US government debt in dollars.

In Gold the Weekly Reversals define the trading range 142399 and 135500 on the upside and 124120 followed by 118870 on the downside.