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

To: dara who wrote (303679)	5/18/2024 9:53:42 AM
From: dara	5 Recommendations Recommended By jaubin jazzlover2 LoneClone onepath ralfph Read Replies (2) \| Respond to of 312313

COTS as of May 14, 2024 Commodities and the Major Indices (DOW, SPX, QQQ & TSX) Rally Together While the US$ and 10 Year Yield Pull Back It has been three weeks since my last post and the commercials have been adding to their net short positions in both gold and silver. See here and here and here. This past week gold rallied and is back above $2,400 closing the week out at $2,417.40. In the month of May, the HUI has moved up along with gold. The HUI is approaching overbought territory while gold still has room to move before that occurs. The MACD is making a bullish crossover in both gold and the HUI as well as silver. Silver broke through the resistance level of $30 closing the week out at $31.26. It is overbought and well above its 200 dma. Copper has been on fire making a new high for this move ending the week at $5.05. Copper is in overbought territory and well above its 200 dma. Recent articles comment on the current short squeeze in the copper paper market. Platinum made a major move higher this week closing out the week at $1,090.00. It is overbought and well above its 200 dma. Palladium moved higher ending at $1,010.80. It is still well below its 200 dma. Palladium has been trading between $950 and $1,100 since mid-January and is at the high end of this range. WTIC spent the week consolidating just below the $80 mark and is also just below its 200 dma. WTIC has worked off its overbought condition. Natgas has had a strong rally since mid-April closing the week at $2.63. It is overbought and sitting at its 200 dma. The US$ has pulled back from recent highs and closed the week out at 104.33. It has worked off overbought status and is sitting at its 200 dma. The yield on the 10 year US treasury has pulled back finishing the week at 4.43. It bounced off its 200 dma. The DOW, SPX, QQQ and TSX are back to making new all time highs after April's correction. Ed Steer comments: On silver: "there's never been such an outright bearish COMEX futures market set-up like this in silver. The jury is still very much out on whether the collusive commercial traders of whatever stripe will be able to flush out the silver market/managed money traders to the downside like they've always done in the past." Disaggregated futures and options - combined report: cftc.gov Legacy Report: Futures Only Commodity Exchange Incorporated: cftc.gov