This will be a brief column today. I hope you all enjoy a wonderful Thanksgiving holiday with family and friends. I know I will.
Of course, overseas markets are open tomorrow and Friday. But without the U.S. markets leading the way, I don’t expect much action.
My eyes are still glued to the gold market. To the dollar, to the euro. To the sovereign bond markets. To the stock market. To other commodity markets, like oil.
And you can bet that despite the holiday, I’ll be checking how all these markets and more are trading overseas.
Right now, I would like to give a glimpse at a shot-term road map for the markets. They are not recommendations. They are, however, based on my A.I. models, which, as you know, can be very accurate.
|Don’t give up on the gold rally.|
So here we go…
Gold: Still has a chance to rally into a December high. Can’t be ruled out yet. It’s deeply oversold. Ditto for silver and other metals. Ditto for miners.
Dollar: The opposite, getting very overbought, subject to a pullback.
Euro: Short-term oversold, subject to a bounce.
Stock market: Overbought, rally is narrowly based. Long-term very bullish; short-term overbought and subject to a correction.
Crude oil: Recent bounce should run out of steam and oil should head lower into December and early next year. New lows below $26 a barrel expected, no matter what OPEC does or doesn’t do.
Grain markets: Showing signs of bottoming. But too soon to say for sure. I am watching them closely.
One thing I am 100% sure of is that all these markets are finally coming to life again. After a rather bull sideways year for most markets, December and 2017 should be rocking and rolling with action and profit opportunities. The best in years.
So, for now, be thankful for all that you have and enjoy your friends and family. I’ll watch the overseas markets and will help you to protect and grow your wealth, in spades, in December and beyond.
Stay safe and best wishes,
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