Non-farm Payroll – 4 June 2021
As employers face worker shortage, the United States economy added 559 thousands jobs in May of 2021, above an upwardly revised 278K rise in April but below market forecasts of 650K.
Market Overview
FTSEMIB index – 04 June 2021
As we can see from the monthly chart below, FTSEMIB index is approaching in these weeks the most important resistance: this resistance has been calculated linking the previous tops of the index (2015, 2018, 2020) and drawing a raising line that in the next couple of weeks will be at 25.900/26.000 level.
Unemployment – 3 June 2021
As a continuous decline in the number of daily COVID cases prompt US states to re-open their economies, many employers are willing to hire more jobless people to respond to growing demand causing initial jobless claims to expect to fall below the 400 thousand mark for the first time since the coronavirus pandemic hit the labor market in March 2020.
Update Gold May
I come back to gold in my analysis today.
I point out our attention to a weekly chart on gold.
The market held quite well the long term support at 1,680. Now is going up (last price 1834) and we think that if manages to close one week above 1860 and then above 1896, we have a very likely chance to see at least a double top at 2,050 and in extension wave at 2,150 dollars.
Update VIX – 11 May 2021
Analyzing the volatility on US stocks (VIX), we are very close to a first important level on daily chart: 22,60.
Our trading system is long (cfr green bars) and also our momentum indicator is bullish.
Update Gold – 17 March 2021
Market trying to stabilize after the fall last month.
→ very important support at 1680 US$;
→ this week if the market closes above 1700, our trading system will close its short position (opened at 1810 on mid-February);
→ next resistance set at 1760 US$: above this level possible a rally up to 1840.
US Treasury Note
In our long term analysis on Treasury note FUTURE, we stress the potential risk of a fall of few months.
SP500 Index – 08 March 2021
In our analysis on weekly chart of SP500, we can clearly see that 3760 – 3770 is a very important short term support. On the other side 3950 was an intermediate key resistance.
MSCI metal & mining index – 04 March 2021
We analyze today the MSCI METAL and mining index.
After 10 years of underperformance of this index vs major indexes, we are seeing an overperformance in these weeks towards both SP500 and Nasdaq.
SP500 INDEX – 26 February 2021
We talk today of Sp500 because the market touched this morning a very important first support:
3,790.
Our analysis tells us a possible rebound from this level.
