Weekly Update 42

 Last week I asked when Silver would do a breakout, it happened already this week. The Retail Sales numbers came in positive and fueled the stockmarket that is now in a Melt-up phase. Stocks have soared and this week we can book extraordinary gains in our Premium Portfolio!

Consumer spending is crucial to the broad North American Stockmarket since it accounts for 70% of GDP. It seems that the markets are quite satisfied with the way the economy behaves and also with the Feds rate cut cycle plans. Right now the expectations favours a .25 rate cut, next meeting.

In two weeks we have the Mega caps earnings and a week later the election. There is certainly possible with a continuation of the Melt-up. If we have positive reports from the Mega caps. 

The miners will look at NEM next week. Q3 report is coming in. That will show if the mining business is profitable or not. There are a lot of costs involved in mining so the business definitively needs a high gold price. When Gold is now over 2700 and inflation is fading it should be some money to collect for the investors too. 

We are still waiting to see the Small caps break out to new ATH. It seems they are coming to join the party. And when the do it can also draw some attention to the Junior miners. Gold Bullmarket is ongoing and we expect higher prices in both the Precious Metals and the Miners.

NEM Newmont Corp.

Daily

Newmont is making new highs and lows and is positive in all timeframes. This week it broke resistance.

The Sectors:

Consumer Cyclical Sector, Healthcare Sector and Real Estate Sector regained their Daily trend after a short dip. Now again following the markets up.

Consumer Defensive Sector and Energy Sector still down and not confirmed positive right now.

Financial Services Sector, Industrials Sector, Communication Services Sector and Basic Materials are in strong positive trend.

Technology Sector is also positive in all time frames but are not the prefered Sector if you look for really nice gains in this Melt-up phase.

Utilites Sector touched the Daily trendline last week but this week it continued in strong trend up. 

In the Utilities Sector we found our Premium 1-2-3-Trade that gave us 190% gain in a couple of months trade. It is still going with 50 % less shares. Profit has been booked for the other half.

There is time for Precious Metals to shine and we will examine the companies in the Premium Section.

Yours Sincerely,

Trader Sven