Gold: Setting Near-Term Price Targets
Our "initial upside target" -- has now been exceeded. What's next? By Elliott Wave International Around the first week of the year, the outlook for gold was not looking promising, at least according to this Jan. 5 headline (Reuters): Gold set for weekly decline as dollar, yields climb The rally in gold which started in early October continued to struggle for much of the rest of January. Even though the mainstream media was looking to so-called fundamentals -- such as the action of the dollar or bond yields -- Elliott Wave International focused on the patterns of investor psychology -- as reflected by Elliott waves. Indeed, on Jan. 24, the U.S. Short Term Update, a thrice-weekly Elliott Wave International publication that focuses on major U.S. financial markets, said: Spot [Gold] made its lowest close since January 17 today. Still, prices remain above $1972.89, which keeps the short-term bullish potential dominant. The [unfolding Elliott wave] should carry gold well above … [Read More...]
A.I. Revolution and NVDA: Why Tough Going May Be Ahead
The topic with all the buzz these days is Artificial Intelligence (AI) and its future. The potential benefits include automating repetitive tasks, enhancing productivity, data analysis, assisting in medical research — and more.
… the mood surrounding AI is way more optimistic than pessimistic.
Just think about how investors have bid up the price of AI-related stock Nvidia Corp., which has a market capitalization of around $2 trillion. That’s more than the GDP of Australia or South Korea. Indeed, if Nvidia was a country, it would rank just outside the top ten largest economies on Earth. Yet — a word of caution: Trends generally don’t go up or down in straight lines without significant interruptions.
Free report: ‘Gold Investors’ Survival Guide’
Gold prices are breaking records so our friends at Elliott Wave International have created a free guide to help you get on the right track.
U.S. Real Estate: A 24% Problem
Real estate prices have reached absurdly high prices because corporate investors have taken over the housing market from individuals in a program encouraged, once again, by the federal government. “…24% of U.S. single family homes are owned by investors.” When the bulk of participants in the market are consumers who think of houses as shelter, prices are stable. When a significant portion of participants in the market are speculators who think of houses as investment items, prices soar and crash.
Why Do Traders Really Lose Money?
We've all probably heard that "the odds are stacked against the small trader" when it comes to the stock market. That tends to push us toward investment tools like index funds. But what if the problem isn't the market but our own brain? In today's … [Read More...]
Quick Takes on Big Financial Trends
Robert Prechter Interview for the Ages By Elliott Wave International Robert Prechter's June 23 interview with GoldSeek.com, which is under 15 minutes, covers a variety of financial topics. They include stocks with an emphasis on the technology … [Read More...]
Market Outlook May 31, 2023
On 12/28/2022 the NASDAQ bottomed at 10,213.29 since then it has soared about 27% to 12,971 as of this writing. This happened despite the media beating the gloom and doom drum of the "Debt Ceiling". John Authers of Bloomberg published an article … [Read More...]
Where is the Market Headed in May 2023
As we've been saying for a while now, the market is stuck in a pennant formation and will eventually have to break out one way or the other, and generally, when that type of breakout occurs, it is quite sharp. The index remains above its … [Read More...]
