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Precious Metals and the U.S. Dollar (DXY):I keep thinking that the 3% plunge in Gold (GLD) and the near 5% plunge in Silver (SLV) are a liquidation event into the end of the quarter in reaction to last week's parabolic spike in 10-year YIELD from 4.93% to 5.23%. A risk-off reflex action ahead of the start of Q4...That said, however, I also think that Wednesday's PCE Inflation report for August is the next significant headline risk (reward) for precious metals. If PCE comes in cooler than expected, then YIELD and the Dollar should moderate and the PMs should catch a bid.
There is a certain irony in writing about IonQ. The company builds machines that work in probabilities, where nothing is settled until it is measured. Yet its stock trades in a market that, according to the most influential theory in academic finance, carries no useful information in its own price history.We see it differently. And IONQ happens to be a good place to show why.First, a brief word on the company, in its own terms. IonQ now calls itself the "world's leading full-stack quantum platform and foundry," with trapped-ion systems spanning computing, networking, sensing and security.
As I said in my weekend update, I have been hoping for clarity. Yet, that is the last thing the market is providing to us at this time. Let me explain.Normally, when you have an (a)(b)(c) structure for a b-wave, the (c) wave takes shape as a standard 5-wave Fibonacci Pinball structure. And, within that 5-wave structure, waves 1, 3 and 5 divide in 5-wave structures themselves. This is what we call the fractal nature of the market, wherein movements are variably self-similar.
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