Silver has been very noisy to say the least, mainly to the upside obviously during the month of January as well as several months before. All things being equal, this is a market that I think is going to continue to see a lot of noisy and bullish behavior, but a short-term pullback from here…
The Nasdaq 100 has gone back and forth again during the month of January continuing the sideways action that we had seen in both November and December. Ultimately, I think this is a market that is trying to do everything they can to break above the 26,000 level.
While silver has been taking most of the headlines, it is worth noting that during the month of January we saw gold piercing the crucial $5,000 level, an area that I thought it would be months before we took out.
The Light Sweet Crude Oil market has been a bit positive for the month of January, but quite frankly we have been bouncing from a very oversold position. Because of this, I don’t read too much into the positivity other than we had tested a major support level in the form of $55 recently and…
The USD/JPY is near the 153.325 ratio as of this writing, this after a full month of tumultuous trading in the currency pair which has led to widespread accusations and rumors regarding price fluctuations.
The Euro posts moderate gains on Thursday, trading a few pips below the 1.2000 line at the time of writing, after bouncing from lows near 1.1900 on Wednesday.