Highlights
The Non-Recovery, Recovery
The “Great Recession” of 2007-2009 was a huge wake up call. The economy contracted the most since the “Great Depression” of the 1930’s. Unemployment soared. Hundreds of financial institutions failed. But since then the economic recovery has been anything but robust.
Weekly Market Review
Stocks
The US stock market continues to hang in even as what appears as a topping bear pattern becomes more pronounced. The DJI keeps bouncing off 18,000 emphasizing it as a support zone. Sentiment indicators and other indicators continue to weaken but the market holds in.
Bonds
Bond prices moved in a narrow range this past week and the TLT that we follow has continued to hold both uptrend and moving average support. Another move to the upside could be forthcoming (yields down as yields move inversely to prices).
Currencies
The US$ Index spiked this past week but left a pattern on the charts that might suggest at least a pause. The US$ Index high was just over 99 and short of the March and December 2015 highs that were just over 100.
Gold and Precious Metals
Gold and silver “washed” around this past week with small losses. The market appears to be consolidating the recent decline when gold busted through $1,300 support falling to a low of $1,243. Gold fell right into our support zone that ranged from $1,240 to $1,260.
Download your free copy of this week’s Gryphon Review Executive Summary
Download your free copy of this week’s Gryphon Review Full Report
Leave A Comment