Market Update – July 15th Market Update – Markets take dovish stance as economic numbers disappoint

I have uploaded a new Market Update podcast for July 15, 2017Click here to go to the show archives page to listen. The latest show is on the top of the page.

-Precious metals update; Silver needs to retake 16 soon, so it can test the 50-day mva. Gold looks OK, but a break above 1233 (200-day mva) is key.  If this happens the miners could move higher.
-A discussion of Friday’s economic data
-Analysis of the stock futures
-Bonds in tight range
-Restaurants and oil drillers suffering from the same thing; low cost of capital. This allows marginal firms and restaurants to stay in business, which drives same store sales down and keeps oil below $50.
-Stock market capitalization now 102% of GDP
-USDX fading slowly. Support levels discussed.
-A cryptocurrency commentary
-A home purchase cannot just be analyzed as a financial transaction