Technology Stocks & Market Talk With Don Wolanchuk Message Board

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Strategies & Market Trends : Technology Stocks & Market Talk With Don Wolanchuk

SOXL 46.83

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Nov 5 4:00 PM EST

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From: Hugh Bett	12/2/2022 12:55:48 AM
	2 Recommendations Read Replies (4) of 206745

US dollar ready to break Welcome back $1800! The picture below is a thing of beauty for Gold Bulls. The US dollar is primed for a plunge tomorrow and it all hinges on the jobs report. Consensus is 200,000 jobs created. My spidy senses thinks it could be below the 100k level. The ADP report came in well below concensus. Should we get a print below 100k, I think the USD will slice through support and go as far as the high 102 level. The steep decline should only add rocket fuel to precious metals. A bad jobs print may cause a Bull rally in the broad markets. The big question for me is: When will Wall Street no longer buy stocks with poor economic implications? Meanwhile, our mining stocks should continue to do nicely. FYI - the HUI hit the 200 dma today and bounced back. Just another 3 more points higher should bring in more buyers into the sector. Way down the road from now, perhaps late next year we could see the USDX in the 80's. If its getting pummeled now, just think what will happen when the Fed is forced to eventually take rates to ZIRP again? Credit to tobinator00

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