Skip to main content

Week in Review: 1-5 July 2024

Financial Markets (Weekly)

Week-on-week, the main stock market indices were positive, with the S&P500 gaining 1.9%, the NASDAQ 100 up 3.6%, while the RUSSEL 2000 was down by 1.4%, giving back the previous week's gains.

Gold's price also jumped higher (+2.8%) and is now around ~2400$/oz. If gold breaks below the 2300$ level, it could fall until ~2150$/oz. Silver got pumped +7.1% and might contradict the downward trend of the past 6 weeks. Silver has some support around 28$ and resistance at 34-35$.

The barrel of WTI rised to ~83$ per barrel. It looks like WTI could continue in the range of 75-85 USD/bbl over the next weeks.

Bitcoin fell a whooping 9.3% and is around 56800$. The next support is around 52k$.

The relative strength of the US dollar (DXY) is slightly down (-0.9%), and has been stable in the range 104-106 since April 2024.

Financial conditions (NFCI) have tightened by ~2% relative to the previous week. This tightening is visible in the price of bitcoin (and eventually other risk assets), and can can then proliferate to the stock market (despite the previous week's positivity).

June M2 money supply (USM2) values are not available yet.

US bond yields lowered considerably this week and now sit at 4.61% for the 2-year and 4.28% for the 10-year.


Comment Section

We reached new record highs in the main indices on lower than average volume. Actually, volume has been subdued over the past 9 weeks, which can indicate a distribution process and a market top. Additionally, the broad market actually lost ground (see Russel 2000, RSP, etc).

The VIX (volatility index) is still historically low, indicating that investors are not seeking puts for protection (expiring in the next ~25-30 days). High yield bond spreads are still small, indicating low stress on the credit markets (good credit availability).

On the political side, the week is marked by the French elections. Is the so called far-right going to win? The media loves to exaggerate with words like far-this, extreme-that...

Take care, and good luck.


Recommended Videos


Video: STOP WASTING YOUR LIFE - Dan Pena BEST Motivational Video

Channel: MotivationFromZero


Video: How the Elite HIDE THEIR MONEY & pass down Generational Wealth

Channel: Jake Tran


 

Video: Chinese brokers launder hundreds of millions for global crime groups | FT Film

Channel: Financial Times


Labels:

Comments

Post a Comment

Most Read

Week in Review: 4-8 November 2024 - Trump Wins!!!

Financial Markets For the week, the main stock market indices were UP, with the S&P500 gaining 4.7% and the NASDAQ 100 5.4% in the green. The small cap index (Russel 2000) got pumped by 8.7%. Precious metals are retracing a bit these days. Gold and silver fell 1.9% and 3.5%, respectively. Recently, silver broke below 32$ and is now probably going towards the 30$ level. WTI is around the 70$ level, which is short-term support. Oil will likely trade sideways in the near future (68-72$). Bitcoin spiked 17% this week, breaking above the 74k level. It can re-test this level again before continuing to the upside (or breaking back below!). The relative strength of the US dollar (DXY) was up by 0.6%. The EUR/USD is around 1.07$, the GBP/USD is at 1.29$, and the USD/JPY is at 152.6 JPY. US M2 money supply at the date of 30th September 2024 was up by 0.38%. The national financial conditions index (NFCI) for the week of 28th October 2024 tightened by 1.4% and doesn't transla...
Post a Comment
Read more

Week in Review: 25-29 November 2024

Financial Markets For the week, the main stock market indices were up, with the S&P500 gaining 1.1% and the NASDAQ 100 0.7% in the green. The small cap index (Russel 2000) gained 1.1%. Precious metals are on the lower range of the current trading channel. Gold and silver fell 2.4% and 2.3%, respectively. The metals need to defend the current levels, otherwise we must turn bearish. WTI fell 4.2% and is holding the 68$ level. Oil will likely trade sideways in the near future (67-72$). Bitcoin is around 97000$ and seems like it will have some trouble going above 100k... The relative strength of the US dollar (DXY) hit resistance and fell to ~106. The EUR/USD is around 1.05$, the GBP/USD is at 1.27$, and the USD/JPY is at 149.7 JPY. US M2 money supply at the date of 28th October 2024 was up by 0.42%. The national financial conditions index (NFCI) for the week of 18th November 2024 loosened by 5.1% and doesn't translate signs of financial stress in the markets. US b...
Post a Comment
Read more

Week in Review: 24-28 March 2025

Financial Markets This week the S&P500 and the NASDAQ 100 re-tested support, losing 1.5% and 2.4%, respectively. The small cap index (Russel 2000) was down by 2.3%. Trading volumes were average during the week but declined on Friday. Precious metals remain strong. Gold continues making new all-time-highs - now at 3084$/oz. Silver gained 3.3% and is going to re-test the 34-35$ level again. WTI is still close to support and went up by 1.1% to ~69$/bbl. If it continues falling, the next support levels are at 64 and 62$. Bitcoin fell 4.3%, contradicting the previous week's move. It is essentially trading sideways, like the equity market. The key resistance and support levels on Bitcoin, for the short term, are 92k$ and 72-74k$, respectively. The relative strength of the US dollar (DXY) was essentially unchanged and is still at 104. The EUR/USD is around 1.082$, the GBP/USD is at 1.294$, and the USD/JPY is at 149.82 JPY. US M2 money supply at the date of 24th February 2025 w...
Post a Comment
Read more