9/6 Trading Futures Update - Precious Metals-Up, S&P500-Down, Crypto-Down Biggly

rollingthunder (60)in #steemsilvergold • 6 years ago

Hello all as the mid-week trading starts off in the far east. We start out the day looking at economic numbers from yesterday, we see emerging markets continuing to be affected, liquidity in the banking system in drying up, and we have the US trade numbers exceeding 50 Billion, so much for trade wars.

Precious Metals had a slight bump yesterday as the USD is now back below 95 @94.97. Gold and silver are trending up, we see gold above $1200, but silver still hanging near the yearly low from August.

S&P500 was down big but recovered later in the day, the DOW settled slightly over even, but the NASDAQ was the worst performing index yesterday, with the FAANG stock being the bigger loser. Looking at the daily S&P500 chart, it is definitively showing a slow roll of the All-Time high established early last week.

Crypto is the big loser for the day, down over 10% to 20% for the last 24 hours. We are at 1916 currencies, and BTC rising to about 55% dominance. Another sell-off as a result of another trading desk being delayed at on of those big banks. Seems most of the moves are centered around a trading desk being established or about ETF issues.