Featuring views and opinions written by market professionals, not staff journalists.
Exactly one month ago today we had suggested that stocks were due for retrace to the middle of their range, and that the next rally may be the one to test bears’ resolve.
We posted this daily chart on June 27:
Below is an update of the same chart, on the weekly time frame:
Stocks have hit their midpoint line in the range; but will we get a push higher to the 200-moving average and top trendline?
Perhaps only Powell knows
Traders and investors should expect volatility in all markets.
Jonathan Da Silva developed a passion for hard money and economics from a young age having been influenced by family who sought to teach me that "nothing is free", and the importance of intrinsic value early on. My interest in markets grew keener during the great financial crisis of 2008; leaning on family with vast trading experience, I began to self-educate on technical analysis and economics- drawing inspiration from the works of individuals like W.D. Gann and Adam Smith. I have been a proud member of the Kitco team since 2017 and hope that my writing inspires readers to consider an objective view of the metals, and the greater financial markets.
