A Market Recap
The Markets are being bombarded from every direction fundamentally. The confusion is rising and so will the volatility. The euro is gradually declining, the stock market keeps holding, gold really cannot get out of its own way, and the 10 year rates remain low even in Germany. Capital is confused every which way from Sunday. Within Europe, people are buying the Germany assuming they get Deutsche marks when the Euro goes kaput. Others are still shifting to the state for diversification. Then we have rising bank fears so many in the big money crowd are also shifting to equities, and we have central banks buying equities to diversify from purely US government debt in dollars.
In Gold the Weekly Reversals define the range 142399 and 135500 on the upside and 124120 followed by 118870 on the downside.
Israeli & Hamas
The War Cycle has been amazingly spot on. Even those who were skeptics are sending in emails asking what is going to happen now. War is brewing both civilly and internationally and in every area around the globe. The Middle East is brewing as well with the FAA imposing a 24-hour ban on US flights to Israel that is being followed by many European airlines also suspending flights. The sirens have been sounding in the south and central Israel and in the West Bank. The EU has called for disarmament of Hamas, but we all know that is just words. The UN chief has urged Israel to exercise restraint with more than 600 Palestinians are being reported dead.