The Brains Trust, page-14999

New York gapped lower on the open overnight but then spent the rest of the session retracing its footsteps to finish stronger making five consecutive days of advances. The high today on the S&P got to within two points of my target of 2600. That would be just too cruel if it didn’t just put in those last two points for me. Did notice that the Dow managed the nice round number of 24000!

The US dollar rallied finishing with an inside day. The effect was felt across the whole commodity scene – mainly grains. Does that mean that the so-called trade talks are not going as well as we are being told? Gold had been up to test its recent high but finished lower as well. There is a lot of resistance up here in gold. Energy has continued to improve. If the price of crude could come back a bit here, I think it would be easy to start making the argument of a nice bottom in this market. Will see how it behaves from here.

The cross rates in the currency pits were interesting today – sorry I am going to say again that some of these people are crazy – so today they sold off the Swissy. Last week we had that ridiculous move down in the Australian dollar that seemed to frighten the living daylights out of everyone in Australia. Australian dollar now nearly two cents higher than where that started!!

Another new all-time high in Brazil!!

Australia struggled all day yesterday and then had one of those questionable spurts right on the match-out. Gold stocks continue to attract attention. As I have mentioned before, I am happy to see this group having a bit of a correction after their earlier stellar run. Just have to mind that optimism doesn’t get too great and yes we might have just made a little double top in the gold cash market but I doubt it.

And on another note – I think this morning is the first morning in ages that when I have turned on my computer, the top-rated posts do not relate to lithium. I have been waiting for this. Let’s see if it can last for more than one day. As I have mentioned many times, I do not believe that bear markets end when such enthusiasm/optimism still exists.