Recession over and gold falls lower
Given so much going on within the monetary/financial chaos out there, , 'tis efficiently sufficient to lead with another installment of "Facts, Hercule, Facts!"--->Moreover: the positive REAL Q3 annualized +2.6% Gross Domestic Product growth was herein foreseen way back on 06 August just after President Biden stated with respect to July's Payrolls data: "That’s the fastest job growth in history today" . Regardless, we then penned: "...
■ "Fact!": As to the stock market, the robustly positive S&P continues to tease us, but its relatively negative MoneyFlow stands to squeeze us. Getting to Gold, here we've its Weekly Bars and parabolic trends, the current one of course continuing its Short course. Entering an eighth week in duration, the hurdle to flip said trend to Long is +111 points above the present 1648 price at 1759. Given Gold's"expected weekly trading range" is now 56 points, price shan't get there this next week -- but if it did, 'twould be indicative of Gold finally gaining some bona fide interest. .
And yet earnings still apparently have some meaning, one technology stock after another getting rather hoovered this past week. Take for example Amazon : it's year-over-year earnings fell -95.4% from $6.12 to barely 28¢, the shares in turn taking a deserved beating. "Deserved" indeed as the day prior to the earnings report, the stock had settled with a 101.1x P/E ratio.
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