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Strategies & Market Trends : Ride the Tiger with CD

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To: dara who wrote (303167)	4/7/2024 11:23:50 PM
From: dara	4 Recommendations Read Replies (1) of 312313

COTS as of April 2, 2024 Gold Makes a New All Time High While Silver Breaks Out The Major Indices (DOW, SPX, QQQ & TSX) Rollover The commercials decreased their net short position in gold while increasing their net short position in silver. Open interest declined for gold and increased for silver. See here and here and here. Gold continued to make a new all time high closing the week out at $2,345.40. Gold is in overbought territory. The HUI is lagging gold's move making a short term high. It is not overbought, but it is well above its 200 dma. Silver made a strong move higher this past week breaking out over the $26.00 level and closing the week out at $27.50. Copper also made a strong move higher closing the week out at $4.24. Copper is back in overbought territory. Platinum moved up and pulled back touching its 200 dma. Palladium consolidated around the $1,007.40 level. It is below its 200 dma. Neither platinum or palladium are overbought. The star of the week was WTIC moving up strongly with Friday's close at $86.91. Natgas moved up from $1.78 and is trading in a range. WTIC has entered overbought territory and is well above its 200 dma. In contrast natgas is well below its 200 dma. The US$ has moved up to the 104.30 level and is sitting just above its 200 dma. The yield on the 10 year US treasury has been strong and closed out the week at 4.39. The DOW, SPX, and QQQ all pulled back from all time highs while the TSX consolidated at its high. I have included the 5 year chart of the TSX as it is making a possible double top. As Ed Steer is taking a short vacation, here is a link to Ted Butler's article of September 2023 titled "Bonfire of the Silver Shorts". Disaggregated futures and options - combined report: cftc.gov Legacy Report: Futures Only Commodity Exchange Incorporated: cftc.gov

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