Loading ...Here’s the setup: USD down a little, 10 yr up four bips to 3.45%, oil up again, Bitcoin up a five hundred bucks – no idea what makes Bitcoin tick – SM flat, world markets are largely flat as well.
More eco data today, including factory orders which are supposed to be down 1.6%. The real heavy data starts coming out tomorrow thru the end of the week. Stock markets are closed Friday so we won’t have an immediate reaction when the numbers come out on the jobs report – a perfect time for a big miss on the numbers going into the weekend – but no reaction until Monday.
Soft commodities are mostly down this am, oil up $.30, slowing down a bit.
Finally, gold is flat but silver is up $.13. Can’t see anything that threatens the current rally, so I suppose the bias is slightly higher. Gold futures above $2K, spot futures around $1685. First things first, we need to comfortably leave $2K in the dust.