https://www.howestreet.com/2024/10/do-lunar-cycles-influence-gold-prices-mark-leibovit/

NEXT PODCAST THURSDAY EVENING

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GREAT COMMENTARY FROM WAYNE ALLEN ROOT:

https://tinyurl.com/uzjwbuu8

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BULL TRAP CONDITION CONTINUES TO EXIST DESPITE WHAT YOU HEAR IN THE MEDIA

DANGER DANGER WILL ROBINSON

Inflation is not caused by the actions of private citizens, but by the government: by an artificial expansion of the money supply required to support deficit spending. No private embezzlers or bank robbers in history have ever plundered people’s savings on a scale comparable to the plunder perpetrated by the fiscal policies of statist governments.

~ Ayn Rand

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U.S. Stocks Move Mostly Higher After Early Volatility

Stocks showed a lack of direction early in the session on Wednesday but moved mostly higher over the course of the trading day. With the upward move, the Dow more than offset the loss posted during Tuesday’s session, reaching a new record closing high.

The major averages bounced back and forth across the unchanged line in early trading but climbed more firmly into positive territory as the day progressed.

The Dow jumped 337.28 points or 0.8 percent to 43,077.70, the Nasdaq rose 51.49 points or 0.3 percent to 18,367.08 and the S&P 500 climbed 27.21 points or 0.5 percent to 5,842.47.

The advance by the Dow was partly due to a strong gain by Cisco Systems (CSCO), with the networking giant surging by 4.3 percent after Citi upgraded its rating on the company’s stock to Buy from Neutral.

The blue chip index also benefited from a rebound by health insurance giant UnitedHealth (UNH), which jumped by 2.7 percent after plunging by 8.1 percent on Tuesday.

The choppy trading seen early in the day came amid some uncertainty about the near-term outlook for the markets on the heels of Tuesday’s pullback.

The downturn on Tuesday, which was led by tech stocks after Dutch chipmaker ASML (ASML) warned of “customer cautiousness,” came after the Dow and the S&P 500 reached record closing highs on Monday.

Buying interest emerged over the course of the session, however, as traders remain optimistic about the strength of the U.S. economy ahead of the release of several key reports on Thursday.

Reports on weekly jobless claims, retail sales and industrial production are likely to be in focus as traders look for additional clues about the outlook for the economy and interest rates.

The Labor Department released a report this morning showing a continued decrease by prices for U.S. imports in the month of September.

The report said import prices fell by 0.4 percent in September after slipping by a revised 0.2 percent in August. The decline matched economist estimates.

Compared to the same month a year ago, import prices edged down by 0.1 percent, marking the first year-over-year decrease since February.

“Import prices do not feed through directly to producer and consumer prices but are a signal inflationary pressures remain muted and adds some support to another rate cut in November,” said Matthew Martin, Senior U.S. Economist at Oxford Economics.

The Labor Department also said export prices slid by 0.7 percent in September after slumping by a revised 0.9 percent in August. Economists had expected export prices to fall by 0.4 percent.

Export prices in September were down by 2.1 percent compared to the same month a year ago, reflecting the largest year-over-year decrease since January.

Sector News

Airline stocks saw substantial strength on the day, driving the NYSE Arca Airline Index up by 4.8 percent to its best closing level in almost five months.

United Airlines (UAL) helped lead the sector higher, soaring by 12.4 percent after reporting better than expected third quarter results and announcing a $1.5 billion share buyback.

Significant strength was also visible among banking stocks, with the KBW Bank Index climbing by 1.7 percent to a two-year closing high.

Utilities, housing and oil service stocks also saw considerable strength on the day, moving higher along with most of the other major sectors.

Other Markets

In overseas trading, stock markets across the Asia-Pacific region moved mostly lower during trading on Wednesday. Japan’s Nikkei 225 Index tumbled by 1.8 percent, while Australia’s S&P/ASX 200 Index declined by 0.4 percent.

Meanwhile, the major European markets turned in a mixed performance on the day. While the U.K.’s FTSE 100 Index jumped by 1.0 percent, the German DAX Index slipped by 0.3 percent and the French CAC 40 Index fell by 0.4 percent.

In the bond market, treasuries extended the upward move seen over the two previous sessions. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, dipped 2.2 basis points to 4.016 percent.

Looking Ahead

Trading on Thursday is likely to be driven by reaction to the slew of U.S. economic data, including the reports on weekly jobless claims, retail sales and industrial production.

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https://tinyurl.com/4tz84y6t

As Hurricane Milton slams Florida, scientists have joined officials battling the latest conspiracy theory in the deluge of disinformation: weather manipulation.

The conspiracy theory claims that recent hurricanes have been geo-engineered for special interests by the government. Like most conspiracy theories, this weather manipulation conspiracy is gleaned from a nugget of nuanced reality.

“The most durable conspiracy theories really do stem from a very small piece of truth that’s usually at the center of a bunch of other lies and myths and hoaxes and things like that,” according to Mike Rothschild, conspiracy theory expert and author of “Jewish Space Lasers: The Rothschilds and 200 Years of Conspiracy Theories.”

The latest disinformation swirling the hurricanes have pointed to Project STORMFURY, an effort whereby U.S. government attempted “human interference and hurricane modification” during the Cold War.

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https://tinyurl.com/2ejnk9mh

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ELON MUSK’S AUTONOMOUS ASSISTANT

https://tinyurl.com/pku6hysk

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Yes, that’s a cartoon of me.  Louis Rukeyser had us dressed up in ‘elf’ costumes on the screen broadcast each week.  I’ve dated myself. That occurred for me between 1988-1996.  Lou didn’t like any bearish comments, so myself and other elves got dumped in 1996.  

WHO am I?

MARK LEIBOVIT is Chief Market Strategist for LEIBOVIT VR NEWSLETTERS  a/k/a VRTrader.Com. His technical expertise is in overall market timing and stock selection based upon his proprietary VOLUME REVERSAL (TM) methodology and Annual Forecast Model.

Mark’s extensive media television profile includes seven years as a consultant ‘Elf’ on “Louis Rukeyser’s Wall Street Week” television program, and over thirty years as a Market Monitor guest for PBS “The Nightly Business Report”.  He also has appeared on Fox Business News, CNBC, BNN (Canada), and Bloomberg, and has been interviewed in Barrons, Business Week, Forbes and The Wall Street Journal and Michael Campbell’s MoneyTalks.

In the January 2, 2020 edition of TIMER DIGEST MAGAZINE, Mark Leibovit was ranked the #1 U.S. Stock Market Timer and was previously ranked  #1 Intermediate U.S. Market Timer for the ten year period December, 1997 to 2007.

He was a ‘Market Maker’ on the Chicago Board Options Exchange and the Midwest Options Exchange and then went on to work in the Research department of two Chicago based brokerage firms.  Mr. Leibovit now publishes a series of newsletters at www.LeibovitVRNewsletters.com.   He became a member of the Market Technicians Association in 1982.

Mr. Leibovit’s specialty is Volume Analysis and his proprietary Leibovit Volume Reversal Indicator is well known for forecasting accurate signals of trend direction and reversals in the equity, metals and futures markets. He has historical experience recognizing, bull and bear markets and signaling alerts prior to market crashes. His indicator is currently available on the Metastock platform.

His comprehensive study on Volume Analysis, The Trader’s Book of Volume published by McGraw-Hill is a definitive guide to volume trading.  It is now also published in Chinese.  Mark has appeared in speaking engagements and seminars in the U.S. and Canada.

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• Donations to LGBTQIA+ organizations

  Some shareholders have argued that Disney’s donations to organizations that serve the LGBTQIA+ community are “extreme pursuits” that ignore the beliefs of most Americans.

• Inclusion of LGBTQ+ characters

  Some critics have taken issue with Disney’s inclusion of LGBTQ+ characters and elements in stories, such as a same-sex kiss in Lightyear and a nonbinary character in Elemental.

• Black Ariel in Little Mermaid

  Some critics have taken issue with the inclusion of a Black Ariel in the recent Little Mermaid.

• Economic and reputational consequences

  Some claim that Disney’s “woke virtue signaling” has had economic and reputational consequences, with Disney’s market cap falling nearly 40% since February 2021. 

In response to these criticisms, Disney CEO Bob Iger has said that: 

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RFK Jr. Shreds Democrats for Abandoning Democracy

https://tinyurl.com/24sh92xa

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I USE JOEL WALLACH’S SUPPLEMENTS EVERY DAY.  MAY AGAIN PROVIDE A LINK TO PURCHASE THEM HERE