A brief commentary before holiday weekend and a short vacation for me (back on June 5th).
U.S. Stock Market – With 5% or so upside and multiple times that to the downside, risk/reward doesn’t favor being long.
U.S. Bonds – Avoid!
U.S. Dollar – Despite numerous reasons to push it higher, it still can’t get above the selling area of 84-85 area on the U.S. Dollar Index. Would love to buy more Canadian Dollars around .95
Gold and Silver – Some very bullish technical patterns regarding momentum are starting to form, but I suspect we first need to get pass options expiration next week before any real bottom can be cemented.
Mining and Exploration Shares – Here too some bullish momentum indicators are turning positive; but an unbelievable amount of resistance awaits any significant rallies – especially as one goes down the food chain into juniors.
