June 15th Market Update – Trading most assets from the long side; Housing stabilizing and moving higher; Explosive set up for BTC?

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Commentary as of June 15; 4:00 pm

-Keep in mind that the central banks and governments need higher asset prices, as this will help foster sovereign debt demand. Thus, their policies will all be geared to increasing asset values.
-Dow and S&P futures holding above 50-day mva. Nasdaq just below the 50 day mva. The only yellow light continues to be the struggling Dow Transports.

Dow futures holding the 50-day mva. My year-end price target of 28,500 is still in effect. The central banks and the governments need higher asset prices as this will result in higher demand for sovereign debt.
A good sign for the stock indexes; The IPO market looks strong and the S&P 500 futures are holding above the 50-day mva.
The Trannies look to be lagging, which gives me pause for an immediate stock market break out. Perhaps we are range bound until the late Summer?
The ten year 10-year UST chart. I see the next levels of resistance for yields to be 1.90% and 1.80% on the 10-year UST. Housing around the world will move higher.
A bullish pennant is forming. Higher bond prices and lower yields on the horizon? The likelihood looks good.
Despite the volatility, gold ended the week virtually unchanged. Hard to deny the power of gold. Another attempt at the 1,362 looks likely. We called the test of 1362 correctly. It was rejected, but it came about with a quick punch, so I believe we will see another attempt soon. If it breaks out, 1400 could be next. My only concern is the stretched COT report
Gold COT is stretched, but there is still some more fire power. This weekly chart shows what we are up against.

The ECB is having a lot of problems with low inflation. This will support the USD and help to accelerate the worldwide dovish monetary policy timeline.
-Housing is showing renewed strength around the world. This will undermine affordability even more. I have to believe that there will be some higher-than-expected growth as low rates will provide some substantial firepower to home values.
-Since Amazon announced plans to build HQ2 in Northern Virginia, the median home price in Arlington has soared 17.3% to $750,000 in April, up from $640,000 in November 2018, when HQ2 was announced, according to Realtor.com. The national median list price increased 5.5%, or $17,000, over the same time frame.

Amazon donates $3 million to Virginia homeless groups as HQ2 pushes home prices up 17%
Why Americans should get into the housing market now
Housing market rebounded in May from record lows earlier in the year, CREA says
Canada Housing Market Begins to Shake Off Slump – WSJ

-Bitcoin and the altcoins look to be setting up for an explosive upside

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