Trump Travel Immigration Ban Event Risk - This event and subsequent protests against it have potentially changed the forecast for the stock market to the downside near-term.
Stocks Sell Near-Term - The major market indexes gapped and closed lower yesterday by more than one half a percent with the current futures premarket negative and this event has now potentially changed the near-term forecast lower. This lower price forecast on the major market indexes has the potential to last weeks to possibly more than one month. Dow near-term downside forecast is 19595 to 19675. If the gaps in the indexes fill in this week then the forecast continues higher and this downside forecast is cancelled.
US Dollar Index Hold to Buy Near-Term - Near-term the USD index could continue lower to the 98.99 to 99.43 price area. This area is a good low-risk high-reward price area to initiate new buy long positions. The longer-term forecast for the US dollar index is higher to 103.82 or higher.
Gold Silver Buy Near-Term - No change in bullish forecast. Gold ticked higher yesterday. 1182 to 1188 is current support and a good low-risk high-reward price area to buy in at with new positions. The potential and forecast is for gold to head higher to 1300 and possibly above 1375.53. 1122.98 still stands as major long-term support. If a further downside correction in gold takes place near-term, downside support is forecasted to come in at 1180 or lower, and another low-risk high-reward price area for new buy long positions as long as 1122.98 support holds.
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