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Market Recap: Friday, june 3, 2016 - SPY TLT AGG JNK UUP GLD GDX USO UNG

6/4/2016

Stocks are now more likely to make new highs as market breadth improves further
Junk bonds are proving resilient
Investment-grade bonds at all-time highs on the heels of poor jobs report
DXY takes a nosedive
Gold rallies as dollar weakens
Oil stalls at possible resistance
Breakout in NATGAS?
Agricultural commodities showing strength

2 Comments

Frank Jackson

6/4/2016 08:04:05 am

Greetings,

You have stated that gold is now in a bull market and you were looking for opportunity to buy. It looks like you had the opportunity around 1200. Did you alert your subscribers to buy gold?

You don't seem convinced that we're in a gold bull market and you don't seem to be taking fundamentals into consideration. The jobs number is a very important piece of the puzzle as far as the interested rate scenario goes.

On the other hand, you have already moved back to a bull market in equities and are ready to buy. Dow Theory certainly hasn't conformed a bull market in equities and fundamentals are not good.

Thanks

Alex link

6/7/2016 01:31:17 pm

Dear Frank Jackson,

1. I am bullish on gold currently (June 2016). After GLD gapped up I alerted subscribers not to chase prices up, but to wait for a pullback and buy then. Whether or not this pullback materializes is another story and sometimes the trade doesn't work out for various reasons. Its OK to let it go - there always will be other opportunities.

2. Gold is almost entirely dependent on the dollar index. If the dollar strengthens, the entire new bull market in gold could come into question. The opposite is also true and if dollar weakens, gold will appreciate.

3. Would you elaborate on your statement about the Dow theory?

Thank ou for your comment!

Best Regards,

Alex

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Market Recap: Friday, june 3, 2016 - SPY TLT AGG JNK UUP GLD GDX USO UNG

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