Powell Delivered

Yesterday confirmed the risk-on turn in S&P 500 and beyond as Powell didn‘t spook the markets in the end. So, not even a temporary setback, let alone a crash that many others had been calling for. Face ripper rallies stretching from stocks, and bonds, over to precious metals, base metals, and even oil (so contingent upon what‘s going on in China) ensued.

Following the Williams and Bullar duo, don‘t underestimate this key Powell pronouncement. Markets are running with that. The Q4 rally got a new lease on life, and the pace of gains (digesting this fresh momentum) is to determine not only the 4,065 support that held overnight but also the next hurdle of 4,130 – with all that I would be guiding you on thereafter.

This sharp increase in volume doesn‘t hint at more than a tactical pullback at best – with risk-on bonds firmly confirming the rally, and the dollar again losing altitude. A recap of the fresh daily levels – don‘t be disappointed if we don‘t make it to 4,130 today, the progress already has been excellent, and no market goes up in a straight line. Volume confirms. Finally, what‘s not to love about precious metals, or the whole portfolio? Copper going hand in hand with silver, miners on fire too, and oil…

Keep enjoying the lively Twitter feed serving you all already in, which comes on top of getting the key daily analytics right into your mailbox. Plenty gets addressed there, but the analyses (whether short or long format, depending on market action) over email are the bedrock, so make sure you‘re signed up for the free newsletter and that you have Twitter notifications turned on so as not to miss any tweets or replies intraday.

I can‘t stress that enough as there are also intraday profit opportunities that I cover on the go via Twitter. Turn your notifications on, and have my Twitter profile (tweets only) opened in a fresh tab so as not to miss a thing.

Let‘s move right into the key chart (courtesy of www.stockcharts.com).

gold, silver and miners

Precious metals and miners cast the best light on the current phase of the monetary policy cycle. Bright days are arriving, and silver will lead. Potentially to $27 before Apr 2023 is over.

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