A Holiday-like atmosphere will be with us for the balance of the week in North America.

U.S. Stock Market – A no-where’s fast outlook continues to be my best assumption. We’ve defined a trading range and the market should look to buy the bottom of it and sell the top until such time the bands change.

U.S. Bonds – Thankfully I gave up betting against the bond market months ago but I remain extremely bearish going forward. Talks of a bubble should only be addressed to the U.S. bond market. The difficulty is bubbles can grow bigger and last longer than anyone could imagine. That appears to be the case here.

Gold – Despite all the bubble nonsense and predictions of its demise a dime-a-dozen, gold has risen in a very constructive manner. I sooner see it move sideways into next week than a vault up here in this holiday atmosphere.

U.S. Dollar – The technical bounce is playing itself out and it would come as no surprise to see us testing the 80 area in the 4^th quarter.

Oil and Natural Gas – Serious conflict in the Middle East is the only factor I see that can cause oil prices to rise dramatically. I have avoided natural gas despite numerous bullish calls for the last couple of years. I continue to see over supply and suggest the sidelines remains the best position until there’s clear evidence the oversupply has truly dissipated or disappeared.

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Posted in All Posts Canadian Stocks Gold Natural gas Oil Precious Metals U.S. Economy US Dollar US Stocks world economy by Peter Grandich