As you know, Paul Rejczak is out of the office until August 3rd, but we didn’t want to keep you entirely without information regarding the stock price movement before that time, so we will provide you with occasional brief analyses anyway.

In today’s quick update we don’t have much to say as the S&P is still in the process of verifying the comeback above the mid-March highs. In terms of the daily closing prices, the breakout is confirmed, but in intraday terms, its being invalidated. The next few days should provide us with clearer signs pointing to either full confirmation of the breakout or its invalidation. For now, the bullish case for the short term seems to be stronger as the S&P futures are up by 0.37% just before the session’s opening bell.

If the breakout becomes clear enough and the implications bullish enough to justify a speculative long position in the US stock market, we’ll let you know.

Thank you.

Sincerely,
Przemyslaw Radomski, CFA
Founder, Editor-in-chief, Gold & Silver Fund Manager

Gold & Silver Trading Alerts
Forex Trading Alerts
Oil Investment Updates
Oil Trading Alerts