The Brains Trust-2019, page-397

I have mentioned so many times that as soon as I am away from my office, markets always decide to do something interesting. So….I am about to be away from my office this time for an extended period – hopefully back on board on 18^th March.  So here is the chance for some interesting developments!!!

Wall Street finished stronger at the end of last week but looking at the NYA, which includes all stocks listed on the New York Stock Exchange, it has become squeezed into a very tight corner.  Can hardly  afford to even take a breath or it will break its uptrend.  This looks to me to be the one to watch over coming days.

Happy with the way gold is behaving. Don’t forget it has had a huge move since late last year and has run right up into the resistance from the tops of the past seven years. Yes, I would love to see it push straight through but that might be asking a bit much.  However, many of our stocks look to be really starting to join in the fun. My next targets on our gold index (XGD) are 6400 and 6700.  Won’t be a straight line.

Copper put in a stunning performance again on Friday. If anything can get a lot of our stocks moving it is optimism in the copper market.  Hopefully this will occur again.

Weren’t many other highlights in the commodities – more a waiting game at the moment to see what it really going to happen on the trade front.

Looking around other world stock markets, they all seem to be marking time. Yes, New York might still have the melt-up we have discussed before but I doubt it but the way markets are behaving at the moment, could do it just to spite me.  Joking.

Our banks are certainly the key to our market. They have done a lot of sideways work down here over the past few months so could build on that.  However, I still think the long term picture on this group leaves a lot to be desired.

For the moment, I continue to focus on anything with a gold flavour in our market. Just have to watch how the price of gold behaves in this range from around 1320 and 1350.