Morning Stock Market Report: Trading Biases Updated

This article was last updated on April 16, 2022

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Trading Biases Updated

S&P 500/Dow 30 – Neutral to bearish
3 year bills – Neutral
30 year bonds – Long term bearish in price.
Gold – Long Term bullish
Silver – Long term bullish
Platinum – LT bullish
Copper – Long Term bullish
Euro – Long Term bearish
Swiss Franc – Bullish
Aussie dollar – Bullish
Singapore dollar – Bullish
New Mongolian Opportunities – Near term bullish
Corn – Bullish

These are my non professional personal opiniions and not official recommendations.

Stock futures have faded from the highs of the night. More of the same chop coming. Whether the market is up or down, it’s a proposition of whether the market is etching out higher highs, or lower lows in the form a longer pattern. Right now lower lows appear to be the emerging pattern.

At least 1Q revision of GDP came in at an expected 1.9%. May durable goods ex transportation were up a tepid .6%.

There was talk yesterday of a 5 year bailout deal for Greece which took the markets off the lows. That tide has turned bearish after trade in Italian banks Unicredit and Intesa was halted this morning after the stocks plunged nearly 10%. There are worries the banks face a credit downgrade and tougher reserve requirements. This remains more than just a Greek problem.

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