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Strategies & Market Trends : Ride the Tiger with CD -- Ignore unavailable to you. Want to Upgrade?

To: dara who wrote (303126)	3/25/2024 1:16:10 AM
From: dara	Read Replies (1) \| Respond to of 312307

COTS as of March 1, 2024 New All Time High for Gold and the Major Indices (DOW, SPX, QQQ & TSX) Once again the commercials increased their net short positions in silver. For a change they decreased their net short position in gold. See here and here and here. Gold popped to new highs on the FOMC meeting closing the week unchanged at $2,160.00. Gold is still working off its overbought condition. The HUI matched gold making a new high on the fed announcement then pulled back. It is just above its 200 dma and not in overbought territory. Once again, silver made a new high for the move on the Fed announcement and then pulled back closing the week at $24.84 down from last week's close of $25.38. Copper continued its strength at the beginning of the week and then pulled back on the Fed announcement closing the week out at $4.01 down from last week's close of $4.12. Copper is no longer overbought. Platinum pulled back from $943.50 to $898.40 and is below its 200 dma . Palladium also pulled back from $1,090.30 to $998.30. It is below its 200 dma. WTIC was strong at the beginning of the week confirming its breakout above $80 closing the week at $80.63. Natgas moved up from $1.65 to $1.81. WTIC is sitting just above its 200 dma. In contrast natgas is well below its 200 dma. The US$ spiked from last week's close of 103.39 to 104.38 and is sitting just above its 200 dma. The yield on the 10 year US treasury moved up in anticipation of the Fed announcement and then pulled back closing the week out at 4.22 a move down from from last week's close of 4.31. The DOW, SPX, and the QQQ all continued to make new all time highs while the TSX made a new high for this move. I have included the 5 year chart of the TSX as it is making a possible double top. Ed Steer's comments: "So, could we go higher from here in both silver and gold? Sure, but from the price action since the Tuesday cut-off...especially the price action surrounding the Fed news on Wednesday, I suspect that 'da boyz' have another 'wash, rinse & spin' cycle planned...if not already in progress -- and it remains to be seen how long and/or successful it will be." Disaggregated futures and options - combined report: cftc.gov Legacy Report: Futures Only Commodity Exchange Incorporated: cftc.gov