BRIEF MARKETS UPDATE and COMMENT ON IRAN'S MISSILE STRIKE (9:00 pm EST)
Iran engaged in more than just "saber-rattling" today as it launched missiles into U.S.airbases in Iraq in retaliation for the drone strike and killing of Iran's military leader Qassem Soleimani last Friday by the U.S. military. U.S. intelligence is now analyzing the situation to determine whether or not the strikes were intended to target "infrastructure" or American soldiers. If American lives were the target, we could see a serious U.S. counter strike.
Needless to say, Wall Street was a bit worried today with the DOW losing 120 points. Not surprisingly, both the U.S. Dollar Index and gold and silver prices all increased in value. Both could be considered safe haven investments these days during times of geopolitical turmoil. The big question now is will this situation cool off or intensify? We shall have to wait and see. Our new reversal zone (Jan. 7 -16) is suggesting a top in both equity and commodity (gold, silver, crude oil) markets by next Thursday. A war with Iran could be the trigger to send equities down, but commodity prices (especially crude) could explode up in that situation. We are watching this situation carefully.
Iran engaged in more than just "saber-rattling" today as it launched missiles into U.S.airbases in Iraq in retaliation for the drone strike and killing of Iran's military leader Qassem Soleimani last Friday by the U.S. military. U.S. intelligence is now analyzing the situation to determine whether or not the strikes were intended to target "infrastructure" or American soldiers. If American lives were the target, we could see a serious U.S. counter strike.
Needless to say, Wall Street was a bit worried today with the DOW losing 120 points. Not surprisingly, both the U.S. Dollar Index and gold and silver prices all increased in value. Both could be considered safe haven investments these days during times of geopolitical turmoil. The big question now is will this situation cool off or intensify? We shall have to wait and see. Our new reversal zone (Jan. 7 -16) is suggesting a top in both equity and commodity (gold, silver, crude oil) markets by next Thursday. A war with Iran could be the trigger to send equities down, but commodity prices (especially crude) could explode up in that situation. We are watching this situation carefully.
RSS Feed