Mark Mead Baillie Blog | Talkmarkets | Page 1
Mark Mead Baillie
Contributor's Links: deMeadville.com

Mark Mead Baillie has had an extensive business career beginning in banking and financial services for two years with Banque Nationale de Paris to corporate research for three years at Barclays Bank and then for six years as an analyst and corporate lender with Société ... more

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Gold Higher, Yet Sedate, Whilst Everything's Great
From its mid-June low, the S&P 500 has risen 18%. And now with but one week to run in Q2 Earnings Season, of the 435 S&P constituents having reported, 62% have bettered their Q2 bottom lines from 2021.
A Major Gold Trend Finally Ascends
After 18 rather ingloriously agonizing weeks of Gold's "parabolic trend" being Short, it has at long last finally flipped to, well, Long.
Gold Price Accession Into Recession
First we start with our title's last word: recession. If you do the math and/or are a regular reader of The Gold Update, you well-understand that the U.S. Gross Domestic Product ex-inflation just recorded its fourth consecutive quarter of shrinkage.
Gold's Good Bad Week
Thursday, July 21, Gold traded down to its year-to-date low of 1678. Until Gold is re-identified as not being dead money, we look for price's languishing to continue, even in maintaining our forecast high for this year of 2254.
Gold Completes Five Down Weeks
What has yet to receive substantive popular admission is the U.S. being well into recession. A Bloomberg survey recently concluded that less than half (47.5%) see the U.S. as going into recession within the next year!
Gold Busts Year-to-Date Support
Bye-bye 1854-1779 support. Whilst it lasted, 'twas a beautiful thing. But as they say in NASCAR upon a car's engine all going wrong: "It done blowed up!"
Gold Summarily Tossed Even As Banks Admit They're Lost
On Friday, Gold found its way well down into the 1854-1779 support zone, tossed to as low as 1783 before snapping back to settle the week at a still ever-petty price of 1813.
Gold Still Lacks Sally With The S&P's Relief Rally
Regardless, whether we again reprise Isaak's "Goin' Nowhere"['95] or even reach back to The Vandellas' "Nowhere to Run"['65], Gold these days clearly exemplifies being on the Talking Heads' "Road to Nowhere"['85].
First The Fed As Gold's Still Dead
With all due respect to the Fed, which throughout its 108-year history has on balance beneficially created wealth for the masses, we are nonetheless becoming ever more justifiably concerned.
Gold Set To Reclaim 1900, Then 2000
That title ain't sayin' that much: but 'tis better than returning to the 1700s. And 'tis based on a technical quirk at which you might smirk, but with Gold having so far survived its underlying support zone...
Gold Wanders, Stocks Flounder
Its price more wandering than trending, Gold nonetheless just sported a three-week high (1879) under the umbrella of the otherwise declining parabolic Short trend.
Stocks Soar, But Gold's A Bore
Oh to be sure, the Index's regression trend (21 days) remains negative, but the S&P has just recorded five net gains in the past six trading days, including a +5.5% net gain in just these past three days toward finishing the week Friday at 4158.
Stocks Further Fizzle But Gold Lacks Sizzle
Year-to-date, the S&P 500 Index from its high (4,819 on Jan 4) is -19%. And in anticipation of it dropping lower still to the top of the 3,600-3,200 support zone, 'twill then be down by -25%; (to the base of said zone would be -34%).
Gold's Swoon Is A Bargoon
We've just had both Gold's fourth consecutive weekly drop and fourth consecutive weekly "lower low", price this past week not having just re-tested the 1854-1779 critical support zone, but having bored to 1810 on Friday.
Gold Tests Support, Stocks Further Abort
This past Monday and Tuesday gold finally tested the uppermost area of the 1854-1779 critical support zone. Gold then bounced a bit in settling its weak week on Friday at 1883.
Gold's Lower Grind And The Fed's Real Bind
Yes, Gold's price continues its lower grind, but 'tis the Fed that's in a Real bind. US annualized Real GDP just shrunk for the third successive quarter,-3.7% in Q3 2021, -0.2% in Q4 2021, and now a whopping -9.4% in Q1 2022.
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