Dow and S&P close at record levels.

Dow up 9 straight daysThe Fed started the balance sheet reduction (albeit at a slowww rate) and signaled their expectation for 1 more hike in 2017 and 3 in 2018, but the stocks did not flinch…much.  The S&P and the Dow closed at record levels. The Nasdaq did shed -5.28 points but recovered by 42 […]

Three things we learned from Yellen’s press conference

Yellen offered hints a what’s next It was a long one. Yellen’s press conference lasted over an hour and she said very little that was interesting or notable. 1. No reverse on taper Yellen argued the Fed could cut rates or re-introduce forward guidance before backtracking on the taper plan that was outlined today. By […]

Gold Prices Dive for 3 out of 4 Days

The gold price correction has been more resilient than we have anticipated. Gold prices have sold off about 4% since the September 8 high was registered at $1357. Due to the break below $1300, our models are forecasting and giving more weight to continued weakness. The chart pattern we are illustrating today is that gold […]