InvestMacro

by JustForex

The US dollar is being traded without clear dynamics against a basket of currency majors. The dollar index (#DX) closed yesterday’s trading session in the red zone (-0.09%). Investors still follow the US-China trade agreement. The tension between two countries eased after the Office of the US Trade Representative said the US was considering extending some tariff exclusions on $34 billion of imports from China. Also, financial market participants took a wait-and-see attitude before the Fed meeting.

The British pound has been growing after it became known that British Prime Minister Boris Johnson officially agreed to delay Brexit until January 31, 2020. Surely, Johnson did not want to allow the delay and still believe that it will harm the UK. Therefore, the head of the European Council, Donald Tusk, states the issue is a “flextension”. That is, the country will be able to exit the EU before the deadline if Johnson manages to convince the parliament. EU leaders also approved the Brexit extension from October 31, 2019, to January 31, 2020.

The “black gold” prices are declining. Currently, futures for the WTI crude oil are testing the $55.20 mark per barrel. At 22:30 (GMT+2:00), API weekly crude stock will be published.

Market Indicators

Yesterday, there was the bullish sentiment in the US stock markets: #SPY (+0.56%), #DIA (+0.45%), #QQQ (+0.99%).

The 10-year US government bonds yield has moved away from local highs. At the moment, the indicator is at the level of 1.82-1.83%.

• – CB consumer confidence index in the US at 16:00 (GMT+2:00);
• – Pending home sales index in the US at 16:00 (GMT+2:00).

by JustForex

By Orbex

The Conference Board will be releasing the monthly consumer confidence index data today.

A measure of how American consumers feel, the consumer confidence index is a closely watched report.

Typically, stronger levels of confidence translate to higher consumption. The US economy is a domestic-demand and consumption-driven economy. Therefore, the CB data will give economists a glimpse into the sentiment and thus potential expectations on growth.

The consumer confidence index from the Conference Board is one of the many forward-looking indicators focusing on consumer sentiment. For this year, consumer confidence rose to highs of 135.7 in July.

Economists forecast that the consumer confidence index will rise to 128.2 for October. It marks a modest rebound from September’s drop to 125.1. The index started the year on a sour note. In January, the index was at 120.2. But, since then, there has been a steady increase.

The index is now close to the historical highs of 137.9 seen during October of 2018. Looking over the data, the consumer confidence index still remains close to historical highs. Therefore, from a month to month perspective, the data might not give an accurate view.

Declines and rises are part of the monthly volatility for the consumer sentiment index. Over the span of this year, consumer confidence has been somewhat mixed. This is largely due to the uncertainty in the global markets.

For US consumers in particular, the trade war with China remains a major concern. This is a concern that boils down to impacting the GDP growth as well.

Can the CB Consumer Confidence Index rise in October?

There have been a couple of positive developments in the global markets during the month. For the United States, in particular, progress on the China and US trade talks was a welcome shift.

The US and China were in a protracted trade war since the past few quarters. Neither of the two sides showed signs of giving up. This led to both sides levying higher tariffs on the respective imports of goods.

But, in October, both sides made progress.  Both sides will be finalizing the terms of the first phase of the deal sometime in early to mid-November. Response from the equity markets was muted, however. Still, investors cheered for the progress.

This could very well see a flow into the consumer confidence as well. The ability to push through trade negotiations is a welcome change.

Meanwhile, on the monetary policy side, the central bank has also been supportive to some extent.

The central bank has been cutting rates steadily. Another (third) rate cut is widely expected this week. Lower interest rates translate to affordable credit. This, in turn, puts more money to spend among the consumer class.

The labor market is still strong with the unemployment rate at historic lows. Wage growth is steady while inflation is largely stable, although below the Fed’s inflation target rate.

Therefore, considering the above, it wouldn’t be surprising to see consumer confidence rising.

However, due to consumer confidence reflecting the ground reality, any fault lines are likely seen here.

Therefore, a weaker reading could indicate some caution. Still, with the January readings at 120, there is quite a bit of room.

As long as the index doesn’t fall dramatically, the markets are likely to be assured that growth, although slow, will still expand.

By Orbex

By Alpari.com

By Alpari.com

By Lukman Otunuga, Research Analyst, ForexTime

Article by ForexTime

ForexTime Ltd (FXTM) is an award winning international online forex broker regulated by CySEC 185/12 www.forextime.com

By Orbex

The week continued being volatile yesterday following a number of impactful events affecting market sentiment.

For one, Trump indicated that a trade deal with China is very likely now, driving flows into equities and away from safe havens.

In Europe on the other hand, the European Commission granted another extension request for Brexit, removing recent gains from gold.

Meanwhile, traders’ expectations for another Fed cut are increasing.

Equities Hit Record Highs Following Trump Comments

On Tuesday night Trump said that “Washington was ahead of schedule to sign a very big portion” of a potential trade deal with China.

Stocks were upbeat on hopes for trade progress and also on the back of renewed Fed sentiment. The CME FedWatch tool shows market participants expect another cut with a 95% probability.

In addition, markets moved higher on good US earnings reports and are expected to be volatile for the rest of the week.

SPX Breaks All-Time High, More Room to Upside

With a number of risk-positive events pushing equities up the SPX marked a fresh ATH yesterday at 3041.

Although expectations remain upbeat, prices are near an exhaustion level that could mark the competition of minute correction c with an ending diagonal near 3048.

Brexit Risks Recede But Uncertainty Looms

Johnson accepted the EU’s granted extension yesterday in a bid to push for a general election in December. This allowed markets to take a breather on at least one of the lingering Brexit risk components.

UK’s MPs rejected BoJo’s bid, however. This left the pound somewhat mixed despite the extension news which should have provided some good gains.

Pound Expected to Remain Mixed, Looking Bearish Short-term

GBPUSD responded to both bearish and bullish headlines, initially driven up but then discounted most gains following the ‘election’ snapback.

Trading within intermediate wave (3) and having potentially ended minute 5 we can now focus on whether the current structure leads to a zigzag correction near 1.27.

Politics Drive Markets Away from Safe-Havens

It was a good week for gold up until Trump’s trade comments. The good news surrounding a potential trade deal drove gold back down below the 1500 handle. With added pressures from Brexit, even partial, resolution the yellow metal could remain bearish in the short-term.

XAUUSD Triangle Hints to Further Declines

The last spike to the upside allowed bulls to take profits and start selling to perhaps completing the corrective minor wave 4.

With prices under the round level and after the throwback to 1515, markets could now push the commodity near 1440. This would be where the complex correction could finally complete.

By Orbex

By IFCMarkets

US stocks broadened gains on Monday as president Trump said US and China were going “probably to be ahead of schedule” with signing the phase one trade deal. The S&P 500 finished 0.6% higher at new record high 3044.08. Dow Jones industrial added 0.5% to 27090.72. The Nasdaq composite rose 1% to 8325.99. The dollar strengthening halted as Chicago Fed National Activity Index turned negative for September while US trade deficit narrowed more than expected: the live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, slipped 0.05% to 97.75 but is higher currently. The Fed tow-day policy meeting starts today, and futures on US stock indices point to mixed openings.

European stock market extended gains for fourth straight session on Monday. Both EUR/USD and GBP/USD turned higher yesterday with both pairs retreating currently. The Stoxx Europe 600 index ended 0.3% higher. The DAX 30 rose 0.4% to 12941.71. France’s CAC 40 gained 0.2% and UK’s FTSE 100 added 0.1% to 7331.28 as European Union granted a three-month extension to Brexit while UK parliament rejected Prime Minister Boris Johnson’s call to hold an early election on December 12.

Asian stock indices are mixed today. Nikkei ended 0.5% higher at 22974.13 with yen little changed against the dollar. Markets in China are falling despite reports US is considering extending tariff exemptions that were approved last December on $34 billion on Chinese goods. The Shanghai Composite Index is down 0.9% and Hong Kong’s Hang Seng Index is 0.4% lower. Australia’s All Ordinaries Index extended gains 0.1% as Australian dollar continued its climb against the greenback.

Brent futures prices are extending losses today on demand sustainability concerns. Prices fell yesterday: December Brent crude closed 0.7% lower at $61.57 a barrel on Monday.

Market Analysis provided by IFCMarkets

Note:
This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.

By Zac Clancy for Kite.com

Table of Contents

• Introduction to Web Scraping
• Scrapy concepts
• Reddit-less front page
• Extracting amazon price data
• Considerations at scale

Introduction to web scraping

Web scraping is one of the tools at a developer’s disposal when looking to gather data from the internet. While consuming data via an API has become commonplace, most of the websites online don’t have an API for delivering data to consumers. In order to access the data they’re looking for, web scrapers and crawlers read a website’s pages and feeds, analyzing the site’s structure and markup language for clues. Generally speaking, information collected from scraping is fed into other programs for validation, cleaning, and input into a datastore or its fed onto other processes such as natural language processing (NLP) toolchains or machine learning (ML) models. There are a few Python packages we could use to illustrate with, but we’ll focus on Scrapy for these examples. Scrapy makes it very easy for us to quickly prototype and develop web scrapers with Python.

Scrapy concepts

Before we start looking at specific examples and use cases, let’s brush up a bit on Scrapy and how it works.

Spiders: Scrapy uses Spiders to define how a site (or a bunch of sites) should be scraped for information. Scrapy lets us determine how we want the spider to crawl, what information we want to extract, and how we can extract it. Specifically, Spiders are Python classes where we’ll put all of our custom logic and behavior.

import scrapy

class NewsSpider(scrapy.Spider):
	name = 'news'
	... 

import scrapy

class Article(scrapy.Item):
	headline = scrapy.Field()
	...

import scrapy

class RedditSpider(scrapy.Spider):
	name = 'reddit'
	start_urls = [
    	    'https://www.reddit.com'
	]

class RedditSpider(scrapy.Spider):
    ...
    def parse(self, response):
       links = response.xpath('//a/@href')
    	 for link in links:
           ...

def parse(self, response):
    links = response.xpath('//a/@href')
    for link in links:
        # Extract the URL text from the element
        url = link.get()
        # Check if the URL contains an image extension
        if any(extension in url for extension in ['.jpg', '.gif', '.png']):
            ...

def parse(self, response):
    links = response.xpath('//img/@src')
    html = ''

    for link in links:
        # Extract the URL text from the element
        url = link.get()
        # Check if the URL contains an image extension
        if any(extension in url for extension in ['.jpg', '.gif', '.png']):
            html += '''
            < a href="{url}" target="_blank">
                < img src="{url}" height="33%" width="33%" />
            < /a>
            '''.format(url=url)

    	# Open an HTML file, save the results
    	    with open('frontpage.html', 'a') as page:
            page.write(html)
    	    # Close the file
    	    page.close()

import scrapy

class RedditSpider(scrapy.Spider):
    name = 'reddit'
    start_urls = [
        'https://www.reddit.com'
    ]

    def parse(self, response):
        links = response.xpath('//img/@src')
    	  html = ''

    	  for link in links:
            # Extract the URL text from the element
        	url = link.get()
        	# Check if the URL contains an image extension
        	if any(extension in url for extension in ['.jpg', '.gif', '.png'])\
               and not any(domain in url for domain in ['redditstatic.com', 'redditmedia.com']):
                html += '''
                < a href="{url}" target="_blank">
                    < img src="{url}" height="33%" width="33%" />
                < /a>
                '''.format(url=url)

    	   # Open an HTML file, save the results
    	       with open('frontpage.html', 'w') as page:
               page.write(html)

    	   # Close the file
    	   page.close()

prices = response.css('.a-price .a-offscreen::text').getall()

import scrapy

from re import sub
from decimal import Decimal


def convert_money(money):
	return Decimal(sub(r'[^\d.]', '', money))


class AmazonSpider(scrapy.Spider):
	name = 'amazon'
	start_urls = [
    	    'https://www.amazon.com/s?k=paint'
	]

	def parse(self, response):
    	    # Find the Amazon price element
    	    prices = response.css('.a-price .a-offscreen::text').getall()

    	    # Initialize some counters and stats objects
    	    stats = dict()
    	    values = []

    	    for price in prices:
        	  value = convert_money(price)
        	  values.append(value)

    	    # Sort our values before calculating
    	    values.sort()

    	    # Calculate price statistics
    	    stats['average_price'] = round(sum(values) / len(values), 2)
    	    stats['lowest_price'] = values[0]
    	    stats['highest_price'] = values[-1]
    	    Stats['total_prices'] = len(values)

    	    print(stats)

{'average_price': Decimal('38.23'), 'lowest_price': Decimal('3.63'), 'highest_price': Decimal('689.95'), 'total_prices': 58}

By The Gold Report

Source: Michael Ballanger for Streetwise Reports   10/26/2019

Sector expert Michael Ballanger ruminates on the bubble-popping influence of government and the banking sector on cryptocurrencies, and offers a brief rundown on his most current holdings.

To put it mildly, the business of financial forecasting is not only an inexact science, it is a magnified case study in handicapping, the likes of which you find in sports betting such as horse racing or basketball. You take a basket of data inputs, such as the last five heats run by a certain filly or the accuracy of a basketball player shooting free throws and you assign various weights to the data, which allows you to determine whether the horse or the player has the ability to shine.

In financial forecasting, you take a similar basket of inputs, such as 10-year Treasury yields and average dividend yields, plus a barrage of other factors, which allows you to gauge direction and amplitude. In sports, you are handicapping a winner, and by how much, while in financial forecasting you are handicapping the direction and by how much.

The difference between the two lies in veracity: Can I trust the input data upon which I make a decision? In sports, thanks to the wonderment of instant replays and television, a horse’s track record is out there for all to see, while a basketball player’s shooting accuracy is exactly the same. Not so with the economic data provided by the government or GSEs that fall under the watchful eye of the central banks and/or treasury department. I do not place one iota of faith in the big numbers, such as unemployment, wage growth, and gross domestic product (GDP), largely because their manipulation has become commonplace among incumbent presidents. Therefore, it is far easier to predict winners in athletics than it is in the financial arena, unless you discount all government statistics as “compromised” (which I do, all the time).

What prompted this line of thought this morning was an article from Coindesk.com that essentially confirmed my engrained cynicism in all markets here in the nineteenth-soon-to-be-twentieth year since the New Millennium arrived. Back in mid-2017, friends were bombarding me for my opinion on Bitcoin and Litecoin and a myriad of other cryptocurrency names. All I could say is, “Why ask me? I don’t own any.” This was my quaint little way of admitting that I too wrapped up in the trials and tribulations of the precious metals markets to care a whit about some phony alternative money scam. Any market moving from under $100 to over $19,000 in less than five years is, today, and was, in 2017, a bubble waiting desperately for a reason to be popped. That reason arrived on Halloween Day 2017. with this statement from the CME Group:

“Given increasing client interest in the evolving cryptocurrency markets, we have decided to introduce a bitcoin futures contract,” said Terry Duffy, CME Group Chairman and Chief Executive Officer. “As the world’s largest regulated FX marketplace, CME Group is the natural home for this new vehicle that will provide investors with transparency, price discovery and risk transfer capabilities.”

The exact second that I read that, I immediately thought of all of the reasons I have amassed, over forty-odd years, for why I refer to the CME as the “Crimex,” and as soon as my laughter subsided, I scrambled to determine the exact date that Bitcoin futures were to begin trading. After it was determined that it was scheduled for mid-December, I wrote: Cryptojunkies: Beware the Ides of December, a publication that capsulized my distrust of anything “Crimex” with the following paragraph:

“As I wrote about in the commentary entitled The True Meaning of Bitcoin’s Success, this is all about the arrival of the hyperinflationary melt-up characterized by various asset classes going into systemic price spikes. Stated another way, it is about the purchasing power of fiat currencies experiencing sudden and dramatic crashes. This recent narrative of a digital currency replacing gold as a store of value is as non-sensical as the idea that ‘dollars’ whether from the U.S., Canada or Zimbabwe, will maintain their purchasing power over time. The bankers reeled in gold in 2013; they will reel in the Bitcoin as well. What both have in common is the medium of control.”

The rest, as they say, is history, because Bitcoin peaked at $19,898 the exact night that futures trading began, and within the next year, found a bottom in the $3,000 range, taking a large number of Bitcoin enthusiasts into insolvency. Thank you, CME Group, and Mr. Duffy.

Now, the speech given by former CFTC [U.S. Commodity Futures Trading Commission] Chairman Christopher Giancarlo at the Pantera Summit in San Francisco last Monday, has to go down as the biggest “in your face” flaunting of the role of government in what are supposed to be “free markets” that I have ever witnessed. He is quoted as saying: “We saw a bubble building and we thought the best way to address it was to allow the market to interact with it,” with “we” being the various agencies and departments. Also from the article: “One of the untold stories of the past few years is that the CFTC, the Treasury, the SEC and the [National Economic Council] director at the time, Gary Cohn, believed that the launch of bitcoin futures would have the impact of popping the bitcoin bubble. And it worked.”

So let me get this straight. Three months before the launching of Bitcoin futures, Terry Duffy is extolling the virtues of his exchange for its “transparency, price discovery and risk transfer capabilities,” while secretly, the four agencies/departments—including the Treasury (under Smilin’ Stevie Mnuchin)—are quietly conspiring to use that venerable institution to torpedo the cryptocurrency bubble, and with it the life savings of thousands of Millennials drawn into the bubble in the final months. Did anyone tell the late arrivals that were listening to Mr. Duffy that there was “another agenda?” Are actions like these typical of “free market capitalists?”

I argue—for the record—that there is today, and will be in the undeterminable future, absolutely zero chance of me believing anything that emanates from the odious underbelly of the CME Group nor its conspiratorial allies, the CFTC, the Treasury Department, the SEC [Security and Exchange Commission] or the NEC [National Economic Council]. These are the stockroaches of the world, hellbent on supporting the stock markets, and by any and all means. while muting the precious metals markets (remember the Sunday Night Massacre back in April 2013?)—all the while using the unregulated Crimex as its “hit man.”

And yet, I see numerous analysts and newsletter gurus offering copious e-mails, posts, and tweets with breathless, table-pounding “research,” either fundamental or technical, expounding gold purchases or zinc purchases or copper purchases on the basis of “conclusive evidence” supporting an investment thesis. All I can do is just shake my head. How on earth can you invest in anything where the inputs are so skewed by sample contamination or agenda bias? The only method that seems to work effectively, at least for me—and certainly not a no-brainer—is using various momentum studies such as RSI [relative strength index] and MACD [moving average convergence/divergence] to avoid dramatic drawdowns.

However, what does not work is relying on CME data, such as bank participation data or GLD net inflow/outflow data (because the custodian is one of the notorious billion banks, HSBC Bank Plc). In a rigged casino, victory is avoiding losses.

If we take this a step further, I am looking at the most recent economic data as measured against the backdrop of Federal Reserve “policy.” If one considers the recently announced and introduced FOMO/POMO injections of billions of dollars of “liquidity” (printed money) into the banking system, amid a record low unemployment rate and the S&P within half a percent of all-time highs, one might conclude that the policymakers are not looking at the same data set. How can your actions be so blatantly stimulative when the economy is already booming?

There is something out there not quite right with the banking system around the world and since the banks all have counterparty risks of both domestic and global natures and origins, the recapitalized American banks may actually be inextricably linked to a foreign bank or foreign banking syndicate caught in a liquidity/capital quagmire. I am speculating that the departure of Draghi will be a timely one, and that the source of the Fed panic has a Eurozone origin.

My advice to all is this: You keep only three months’ cash within the banking system, and that is to pay for the necessities such as rent/mortgages, food and utilities. Your retirement nest egg and savings/wealth must be situated outside of the banking system, in order to be inaccessible to the confiscatory policies of the banks/government.

Now, that does not mean that private independent brokers (like Schwab or Questrade) are part of the same sweep, or that keeping your stock certificates in your safe/vault is a bad idea. High-yielding dividend-paying corporations such as utilities and food providers, while not totally immune from a banking sector accident, will still pay dividends. You just don’t want then held by a bank-owned broker whose back office could freeze access to any income generated.

It may seem trivial to many of you that I would react so vehemently to the admissions of Mr. Giancarlo last Monday, but I’m sorry; it is behavior most vile and it sickens me. To learn that anvil of government influence was dropped into the “free market,” so boasted of by Trump advisor, Larry Kudlow, is a contradiction to beat all contradictions. To invite people to trade in BTC futures knowing full well that they were designed as a bubble-breaking enforcement tool, and actually brag about it a mere two years later, is (in a perfect world) a class-action lawsuit waiting to happen. Of course, it won’t happen because this is a totally imperfect world in which we trade and invest, but also one filled with deception, deceit and disillusionment.

Shifting gears, to the extent that one still feels obliged to trade precious metals, I remain 100% invested in the GLD, SLV, GDX, and GDXJ, as well as a basket of juniors including Aftermath Silver Ltd. (AAG:TSX.V), Goldcliff Resource Corp. (GCN:TSX.V), Getchell Gold Corp. (GTCH:CSE) and Stakeholder Gold Corp. (SRC:TSX.V). I am also short the GSR from 92.4 (looking for 70). The only leveraged holding is a small position in the SLV December $18 calls from US$0.35 (now $0.24), and I am looking to add substantially to them possibly later in the week. The SLV chart is mildly constructive, having reclaimed the 50-daily moving average, which sits at $16.42, and moved above the downtrend line at $16.25.

Month-end is approaching fast and while we had a decent day today, I am fearful of a looming take-down between now and Halloween.

The overbought condition for both silver and gold has now been worked off, and considering that RSI for gold resided in the plus-75 zone for literally most of June, the recent 51.74 reading gives me a far-superior setup, while silver’s, at 52.93, is also in great shape. Mind you, these are not the minus-30 oversold “gifts” we had in late-summer 2018, but with conditions so precarious, and without knowing why the Fed has hit the panic button, the overall setup for both metals could not be better.

Follow Michael Ballanger on Twitter @MiningJunkie.

Originally trained during the inflationary 1970s, Michael Ballanger is a graduate of Saint Louis University where he earned a Bachelor of Science in finance and a Bachelor of Art in marketing before completing post-graduate work at the Wharton School of Finance. With more than 30 years of experience as a junior mining and exploration specialist, as well as a solid background in corporate finance, Ballanger’s adherence to the concept of “Hard Assets” allows him to focus the practice on selecting opportunities in the global resource sector with emphasis on the precious metals exploration and development sector. Ballanger takes great pleasure in visiting mineral properties around the globe in the never-ending hunt for early-stage opportunities.

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Disclosure:
1) Michael J. Ballanger: I, or members of my immediate household or family, own securities of the following companies mentioned in this article: Aftermath Silver, Getchell, Goldcliff, Stakeholder. My company has a financial relationship with the following companies referred to in this article: None. I determined which companies would be included in this article based on my research and understanding of the sector. Additional disclosures are below.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with Aftermath. Please click here for more information.
3) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
4) This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Aftermath Silver, Getchell, Goldcliff and Stakeholder, companies mentioned in this article.

Charts provided by the author.

Michael Ballanger Disclaimer:
This letter makes no guarantee or warranty on the accuracy or completeness of the data provided. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. This letter represents my views and replicates trades that I am making but nothing more than that. Always consult your registered advisor to assist you with your investments. I accept no liability for any loss arising from the use of the data contained on this letter. Options and junior mining stocks contain a high level of risk that may result in the loss of part or all invested capital and therefore are suitable for experienced and professional investors and traders only. One should be familiar with the risks involved in junior mining and options trading and we recommend consulting a financial adviser if you feel you do not understand the risks involved.

( Companies Mentioned: AAG:TSX.V,
GTCH:CSE,
GCN:TSX.V,
SRC:TSX.V,
)

By CentralBankNews.info
Tunisia’s central bank maintained its key interest rates, noting the stabilization of inflation following the easing of some prices of foods and services amid slow economic growth.
The Central Bank of Tunisia (BCT) has kept its rate steady since a 100-basis-point rate hike in February as part of a 350-point tightening cycle that began in April 2017.
Tunisia’s headline inflation rate has been decelerating since late 2018 and was steady at 6.7 percent in September and August while core inflation, which excludes food and subsidized goods, fell to 6.9 percent from 7.0 percent in August, the central bank said.
In its statement, the bank’s board underlined the slow pace of economic growth and said this would not exceed 1.4 percent for 2019, mainly due to weak exports, business-oriented sectors, and mining.
Tunisia’s gross domestic product ticked up to an annual rate of 1.2 percent in the second quarter of this year, up from 1.1 percent in the first quarter but down from 2.9 percent in the second quarter of 2018 and 2.7 percent in the first quarter of last year.
Last month the governor of BCT, Marouane El-Abassi, said he expects inflation to drop to 6.9 percent by the end of the year and then gradually declined to 6.5 percent in 2020 and 5.9 percent in 2021.
Tunisia’s inflation rate has been pushed up by automatic adjustments of wages to energy costs and increases in public sector wages, both of which the International Monetary Fund (IMF) has criticized.

www.CentralBankNews.info

By TheTechnicalTraders.com

The US Stock market rallied on Friday, October 25, on TESLA earnings crushing expectations as well as news that any positive US trade deal outcomes could see almost immediate removal of future tariffs that are scheduled to be implemented near the end of October.  This was enough for the markets to rally from the start of trading and continue to push higher until near Noon in NY.  After new highs were reached, the markets contracted a bit headed into the close.

Gold shot up early this morning before the news related to the US trade deal hit.  Our opinion is that this is a natural advancement in precious metals that is not new related or muted by some external factors.  Precious metals have been setting up a sideways FLAG formation for over 2 months and we believe the apex/breakout move is near.

Oil was somewhat flat to close out the week and closed trading near $56.63.  The past three days we have seen oil rise from the $53 level to the current price levels, but we believe oil is still fundamentally oversupplied and that price will continue to weaken over time.

The real question before all of us right now is will this new nominal high represent a new breakout bullish price trend heading into a US Presidential Election cycle, or is this more price rotation within a defined price range?

If you consider all the shifting aspects of the US political and economic landscape as well as the current geopolitical and economic factors, we believe any real breakout move will come as we get closer to November 2020 – not now.  We believe this is still price rotation and we believe the NQ is the likely cause of this new nominal price high on Friday.  Tesla crushed earnings and that set a positive tone for Friday’s trading.

Transportation Index Daily Chart

The TRAN, Transportation Index, is still trading near current resistance and has not shown any true new price high yet.  It will be interesting to see how the markets open up early next week and what news may drive a new price trend by then.

Mid-Cap Sector Daily Chart

The Mid-Cap has failed to rally to recent price highs which suggest this is not a broad market rally.  We would want to see more defined price advancement across all sectors and above recent price highs to call this a broad market rally/breakout

Pay attention to the new that originates this weekend.  We don’t believe a deal will be reached with regards to trade as quickly as some others may believe and we still believe the next 12+ months of the US Presidential election cycle will be full of surprises.  We may start to get more clarity of a true price trend after the New Year (2020).  Until then, we’re staying cautious of these price rotations and picking our trades.

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As a technical analysis and trader since 1997, I have been through a few bull/bear market cycles. I believe I have a good pulse on the market and timing key turning points for both short-term swing trading and long-term investment capital. The opportunities are massive/life-changing if handled properly.

Chris Vermeulen

TheTechnicalTraders.com