BRICS And The Recent Headline

Over the course of our writing the Daily, it has served as a reliable and remarkable guide for investors, traders, and investments.

For example, looking most recently, on August 22nd, we wrote about watching the dollar decline and TLTs rising. That is happening.

Earlier this week, we wrote about Biotechnology and the opportunity presenting itself there. IBB cleared the key price point.

Over the weekend you got to watch the Real Vision interview where we discuss buying silver and gold (up 6-7% already).

The week before we cover China and Alibaba (BABA) - the opportunity emerging there. Today, BIDU led the China market higher.

Silver-another Daily written that featured the metals back on August 8-had a great couple of days.

The point is that the Daily is designed to give you our insights into the market along with actionable trading ideas.

For today, another word about BRICS and the recent headline:

BRICS nations agree to expand developing world bloc

Why is this important?

At a time when the world is experiencing de-globalization, an alliance of countries including Brazil, Russia, China, South Africa and possibly India is a potential threat to the west.

Currently, more than 40 countries have expressed interest in BRICS with 22 already formally asking to join.

The dollar is below the July 6-month calendar range high now while gold returned over the July 6-month CR low. Silver improved its phase.

Yields rallied through the TLTs and are threatening to outperform the SPY - a risk off scenario.

What’s next?

SLV is above the 50-DMA for an improved phase change to bullish.

The Real Motion indicator shows improved momentum.

Plus, Silver is now outperforming the SPY - inflationary and perhaps the first sign of risk off.

GLD also improved its phase to Accumulation. More noteworthy than silver, it is outperforming the SPY-that is a sign of risk off even with the indices rallying today.

On Real Motion, GLD had a mean reversion.

Metals look strong.

Furthermore, the Dollar looks vulnerable failing the July calendar range high.

TLT looks like a huge potential double bottom in the making going back to October 2022.

And even China got a bid, now having to hold above 26.50 or its July 6-month calendar range low.

ETF Summary

S&P 500 (SPY) 440 now back to pivotal

Russell 2000 (IWM) Popped off the key support. 185 pivotal

Dow (DIA) Will watch to see if it can back over 347

Nasdaq (QQQ) 363 back to key support

Regional banks (KRE) Still needs to get back over 44 to be convincing

Semiconductors (SMH) 150 back to pivotal

Transportation (IYT) 239 still support to hold with 252 biggest overhead resistanct

Biotechnology (IBB) Compression between 124-130

Retail (XRT) 62.80 the July 6-mo. calendar range low that failed yesterday, saw a return above today.

More By This Author:

The US Dollar And Long Bonds Doing The Dosey Doe
Biotechnology On Drugs
Is Now The Right Time To Be Buying These Commodities?

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