07 February 2019

Stocks and Precious Metals Charts - Two For Flinching? - Equities Fall Back From the 200 DMA

"Stocks were wobbly and finished slightly lower.  We shall have to keep a watchful eye on them, as they are pausing at a key technical resistance level that may mark the extent of the recovery rally after the debacle in December."

Jesse, Feb 6, 2019

"Who is like unto the beast?   Who is able to stand against him?"

Revelation 13:4

Stocks backed off hard after their recent failure to take out their 200 DMA, and the 61.8% Fibonacci retracement of their December decline.

The jury is still out on this, of course. But there are increasing signs of a floundering recovery, despite the happy talk from the Trump Administration and the New York-Washington status quo.

Credit market measures are suggesting that the Fed's next move may be a rate cut, and not an increase.

Gold and silver finished slightly higher, along with the Dollar.

Have a pleasant evening.