kingworldnews.com / January 10, 2017
As we kickoff trading in 2017, here is the key level in the most important market in the world, plus a Q&A about the gold market.
By Bill Fleckenstein President Of Fleckenstein Capital
January 10 (King World News) – Overnight financial markets were flat to slightly weaker, but that had no bearing on anything. The indices here limped around unchanged through midday in trading that, as noted in yesterday’s headline, has become rather dull. That may indicate that the euphoria is slowly waning and exhaustion may be setting in. I only throw that out there as a possibility. Unfortunately, I have no strong reason to say that is in fact the case (yet)…
Once again the afternoon saw a little upside pressure for the Nasdaq, which gained 0.3% as of an hour to go, when I had to leave (the Dow/S&P were flat). Away from stocks, green paper and bonds were weaker, oil lost 2%, and the metals were higher, led by silver, which gained 1.5% to gold’s 0.5%.