A sixth consecutive net monthly gain, having broken a new hist’ high of 6920. Monthly momentum is increasingly positive, and is on the moderately high side. A sixth consecutive settlement above the monthly 10MA (6162), as the mid/long term trend is unquestionably bullish. RSI 75s is overbought. Vol’ was a pretty high 69bn.
With just one sixth left of the year…
Ytd perform’
Silver +68.5%
Gold +52.3%
Copper +27.8%
SPX +16.3%
TLT +6.8%
WTIC -15.1%
Despite some cooling, it remains a year for the precious metals.
Equities are having a fine year.
Cheaper oil is the perhaps the biggest positive for the US/global economy.
