Grandich: Market Update

Posted by Peter Grandich - Grandich.com

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 U.S. Stock Market – With 5% or so upside and multiple times that to the downside, risk/reward doesn’t favor being long. (Ed Note: All charts were chosen by Money Talks Editor)

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U.S. Bonds – Avoid!

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U.S. Dollar – Despite numerous reasons to push it higher, it still can’t get above the selling area of 84-85 area on the U.S. Dollar Index. 

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Canadian Dollar: Would love to buy more Canadian Dollars around .95

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Gold and Silver – Some very bullish technical patterns regarding momentum are starting to form, but I suspect we first need to get pass options expiration next week before any real bottom can be cemented.

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Mining and Exploration Shares – Here too some bullish momentum indicators are turning positive; but an unbelievable amount of resistance awaits any significant rallies – especially as one goes down the food chain into juniors.

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Ed Note: Peter is back in office and blogging June 5th

 

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