Tuesday Market Commentary - February 14, 2017
Stocks Hold to Buy Near-Term - The major market indexes are continuing higher against my previous cautious forecast. The forecast near-term is higher for the major market indexes for now.
US Dollar Index Buy Near-Term - Bullish case remains the same. The US dollar index is continued to be forecasted higher to 102.95 to 103.82 or higher near-term. 99.233 is near-term support and 98.992 is longer-term support. If 98.992 support breaks the forecast would turn to the downside with a projected forecast of 92 to 94.
Gold Silver Buy Near-Term - Bullish case remains the same. The recent three day pullback in gold is a good buying price level opportunity. Gold and silver have been very strong lately, and are forecasted to continue higher. The potential for an even stronger upside move is very possible now. The upside forecast for gold is 1300 near-term and 1375.53 and possibly higher further out. $1122.98 still stands as major support for the bullish case to hold with gold. Silver upside price forecast is 19.03 to 21.17. Any pullbacks in Silver especially to the 16.50 to 16.60 would provide a low-risk high-reward trade with a stop-loss of 15.62.
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