Equities ended the week with considerable chop, the SPX settling -4pts (0.1%) to 6940, which made for a net weekly decline of -26pts (0.4%).
sp’weekly1b
Summary
SPX: a moderate net weekly decline, but with a new hist’ high of 6986, it should be seen as a net bullish week. Weekly momentum remains marginally negative. Upper bollinger is offering 7023.
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A note on Gold & Silver
Gold, weekly
New historic high of $4643.07
Net weekly gain of +$80 (1.8%) to $4591.
Weekly momentum ticked a little higher.
Short/mid term bullish, whilst >10MA ($4316)
Big target is giant psy’ $5K, as looks viable late Feb’
Silver, weekly
New historic high of $93.57
Net weekly gain of +$9.67 (12.1%) to $89.62.
Weekly momentum accelerated upward… and has never been higher.
Short/mid term bullish, whilst >10MA ($66.57)
If Gold $5K, silver… $115/120
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Broad overview
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Yes. with Silver… $500, maybe $1000
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*I’ve not watched. ‘Digital silver doesn’t sound as good as ‘Physical silver’.
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Miscell’ things
*I will be inclined to add some extra things (as they appear) late Friday/Sat’, so check back at least once this weekend.
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So yeah… it was a pretty standard OPEX.
Notable upside in CCJ, SMR, and MU.
Apple was weak, but I’m still inclined to see it climb into Jan’29th earnings.
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Econ and related geo-political chatter. Looks interesting.
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HIGHLY recommended. Nvidia is turning into a rather nasty company, with AMD and Micron following along, reducing supplies to consumers, and instead selling to AI companies.
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Most incredible of all… is Trump deeming the ‘affordability issue’ as ‘democrat fake news’. The reality is that many families are spending $1500/2000 a month, and its only to get worse… far worse.
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One of the independent voices… whom I like a lot.
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Dore with guest Ritter, as Trump/red team are doing what Biden/blue team were doing… the dystopian action of de-banking. So much for ‘land of the free’.
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Carlson with Ms. Vlaardingerbroek, as Eve is banned from the UK. Frankly though, you’d have to be an idiot for visiting the rape capital of the world. Anyone who can… is fleeing.
Friday evening saw this appear…
As Starmer allows psychopathic terrorists to remain, whilst banning white Christians. A truly sick nation, lead by a maniac.
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The weekly wrap on geo-politics is highly recommended.
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The Celente… furious as ever.
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The weekend
Three days to rest/recover, and work a little, is fifty percent better than the usual! I’ve sideline entertainment from Gold Rush, and two movies…. ‘Dust Bunny’ and ‘Rental Family’. I’ve read that both are rather good.
As ever, feel free to message me via X, Disqus or email.
Sincerely, enjoy the long weekend, and goodnight from London
yours… Philip
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The weekend post will appear Sat’ 12pm EST @ https://tradingsunset.blogspot.com, and will detail six of the US equity indexes (weekly candle charts).
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*the next scheduled post on this page will be the pre-market brief, 8.30am EDT, Tues’ January 20th.