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Gold, Australia and the USA

By Colin Twiggs
September 29, 2018 4:30 p.m. EDT (6:30 a.m. AEST)

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A short update today.

10-Year Treasury yields are retracing to test the new support level at 3.0%. Respect would confirm a bond bear market, with rising Treasury yields.

10-year Treasury Yield

The Dollar Index recovered above key support at 95.

Dollar Index

Spot Gold shows a slight bulolish divergence, so expect a bear market rally to test the descending trendline. The primary down-trend is unlikely to reverse.

Spot Gold

Australia

Australian gold stocks are falling, with the All Ordinaries Gold Index testing support at 4550. A Trend Index peak below zero warns of strong selling pressure.

All Ordinaries Gold Index

The ASX 200 displays a weak rally, with short candles for the last 3 weeks, while a declining Trend Index warns of selling pressure. Expect a correction to test 6000.

ASX 200

USA

The Nasdaq 100 respected support at 7400, signaling further gains.

Nasdaq 100

Volatility on the S&P 500 has declined to well below 1.0%, suggesting the bull market is alive and well.

S&P 500 Index

We can speak of the triumph of capitalism in the world, but we cannot yet speak about the triumph of democracy. There is a serious mismatch between the political and the economic conditions that prevail in the world today.

~ George Soros

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Disclaimer

Colin Twiggs is director of The Patient Investor Pty Ltd, an Authorised Representative (no. 1256439) of MoneySherpa Pty Limited which holds Australian Financial Services Licence No. 451289.

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