Russell Shor

The SPX500 has traded to new all-time highs over the last week. Technically, the green 5-week EMA is bullishly above the orange 10-week EMA. The RSI is on the positive side of 50 but is not in overbought territory.

Bitcoin is trading around $71,100, very close to its all-time high of $73,757, which was hit in March of this year. This comes off the large gain in Ethereum yesterday, which jumped by over 19% , and is now trading over $3,700, on the hopes that the approval for a new sport ETHUSD ETF is due soon.

Gold’s run is showing no signs of slowing down. The precious metal is trading at $2,440 and set an all-time high of $,2450 overnight. Gold is up over 18% year-to-date. The prospects of lower yields ahead, combined with pressure on the dollar, as well as geopolitical fears are supporting the yellow metal.

Silver is trading near the $30 level at key long-term resistance (red-shaded horizontal). To really boost enthusiasm for silver, it needs to pass the $30 hurdle. Since August 2020, $30 has been a tough barrier. But now that silver has cleared $27, it may be getting ready to tackle its key resistance. Silver soared from $13 to $30 in just five months in 2020, showing its strength. Since then, it…

Gold prices are up over 15% for the year-to-date with the green 5-day moving average above the orange 10-day moving average in bullish formation. Whether this persists may depend on the Federal Reserve and the speed potential for rate cuts this year.

Goldman Sachs traded at a new all-time high on Friday. Technically its exponential moving averages are in a bullish formation, with the green 5-month EMA above the orange 10-month EMA. The stock may be overbought in the short-term but given its strong primary trend, support areas are likely to be compelling.

Ethereum is down around 5.4% for the week. Technically its green 5-day EMA remains below its orange 10-day EMA with the daily RSI remaining on the bearish side of the oscillator (green rectangle).

FXCM’s CHN50 CFD is showing good signs of progress on a primary trend basis. It has broken above its down sloping trendline that has defined price momentum since February 2021, indicating that the downwards momentum has certainly waned. Importantly its trend following indicators which have been in a bearish formation for over two years are looking to cross up (top black ellipse). This positivity is accompanied by an RSI which…

Over the course of 2024 the US real rate has appreciated by just under 24% (top red arrow) and is currently at 2.11%. Not surprisingly, the smaller companies have felt the burden more so than the large cap companies.

SPX500 stock futures are trading higher pre-cash open (red arrow). The index is extending gains following a weaker than expected US jobs report on Friday boosting the prospects of a rate cut by the Federal Reserve.

The Japanese yen hit a 34-year low against the dollar on Monday before rebounding, amidst speculation of official intervention. Thin trading in Japan due to Shōwa Day saw the USD/JPY swiftly rise, reaching its weakest level against the dollar since 1990. This year, the USD/JPY has gained around 12%, driven by widening bond yield differentials. While US 2-year Treasury yields rose by 75 basis points to 5%, Japan's 2-year bond…