- Equities leap on Aug 2 following the release of some better than expected economic numbers. That coupled with good numbers late last week have offset weaker numbers seen earlier in the weak.
- Bonds sold off on Aug 2 as the economic numbers were stronger than expected. Key is this Friday when the non-farm payroll for Jul is out.
- Gold is better but just, as it tested lower last week briefly breaking under $1175 before rebounding. Gold has been weak despite a weak US$. The US$ has been falling as the risk factor dampens and there is less need to hold safe haven currencies.
- Oil prices were strong on Aug 2. The Chairman of the Joint Chiefs of Staff opened his mouth at NBC’s “Meet the Press”. A tropical depression is forming in the mid Atlantic.
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These are 3 separate reports (more details here) (at least 44-46 per year): a fundamental and technical perspective on what’s happened during the week and what’s shaping up for the coming one. The Technical Commentary, Technical Scoop & Chappy's Stock Picks.
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