0:00?EUR< - Introduction0:35?EUR< - News vs. the Chart1:30?EUR< - Sectors & Charts3:22?EUR< - Gold $1800 Level7:17?EUR< - Resistance Levels8:30?EUR< - Yellen & Rising Rates?10:15?EUR< - Offsetting Inflation11:50?EUR< - Silver Chart15:34?EUR< - Metal Drivers16:22?EUR< - Dollar Chart18:22?EUR< - Volatility & Technicals20:50?EUR< - Bitcoin & Shanghai24:55?EUR< - S&P Major Pivot27:05?EUR< - Chinese Stocks28:48?EUR< - Wrap Up
Tom welcomes back Gareth Soloway, President, CEO & Chief Market Strategist for InTheMoneyStocks.
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Gareth discusses the importance of balancing news with chart technicals. You want to be aware of new economic data even though his focus is primarily on the charts. Be flexible and look at many sectors for opportunities.
Gold looks very promising especially considering that markets trade-off fear and greed. Gareth is very bullish on gold due to interest rates and inflationary pressures. He believes gold will move sharply higher and provides several specific price targets based on its 2011 move.
Gareth discusses Janet Yellen's recent talk of possibly raising interest rates and why any such rise will likely be limited. The Fed will be forced to cap at two or three percent regardless; the next few years will likely be crazy.
The next breakout in silver should come soon based on recent price action. However, he would be concerned if we break below the lower trendline.
The dollar is still holding support, but it's testing the bottom of its trend. It seems possible that it will break through that support. A breakdown in the next couple of weeks could send the dollar to the 85 levels.
Gareth argues that technicals can provide for accurate trading and risk assessments. He questions why investors want to buy when prices have just doubled instead of waiting for a sale.
He compares the bitcoin chart with the Shanghai Composite and how the charts look very similar. The Chinese market has been restricted to some extent, making him think a breakout could be coming for Chinese stocks.
The SPY has been in a closing wedge pattern, which will likely break down. He is concerned that massive tax hikes could cause institutions to unload. Institutions appear to be moving out of equities even now, with retail investors making up the difference. He sees similarities between today's markets and 1999 and 2007.
Gareth Soloway President is CEO & Chief Market Strategist for InTheMoneyStocks.