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  • Wall Street sharply higher, Gold corrects 0 comments
    Aug 23, 2011 5:05 PM | about stocks: SPY, GLD, USO, FXE, UUP
    US stock markets closed sharply higher on tuesday 23rd of August with investors waiting for more Fed stimulus.
    Silver and Gold closed strongly lower after Gold registered new highs, hitting over $1917 during the session. This is an option expiry week for these metals, in the last expiries prices have trended town and then up after the expiry occurs.
    The Euro was higher over half figure vs the USD.
    West Texas Intermediate Crude Oil closed around $86 per barrel.

    The Big Picture

    The Second Great Depression has started, stock markets will suffer an historical crash that will be clear in 2012. This Greater Depression is just starting and will last several years, changing the political structure of the world. Crisis generate carismatic leaders with a ditactorial style and great wars.

    Gold and Silver are taking their rightful place as currency with intrinsinc value, unlike paper currencies.

    They are refuge and protection, also from a fiscal perspective.

    Source: Dshort
    Outlook

    S&P 500 presents resistance at 1202 to 1210 points and some support at 1100 to 1089 points and lower at 981 points.

    Gold presents short term support at $1825 to $1818 and lower at $1656 to $1645.

    The Euro euro presents resistance at $1,4530 and $1,4750 and support at $1,3730.

    Crude Oil presents short term resistance at $88,60 and $91,50 and support at around $80.


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    Tuesday Aug 23rd updated video clips with: Gerald Celente, Max Keiser, Marc Faber

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