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Housekeeping: Good Morning. Expect more activity in the Substack comments answering questions now.
“Bubbles are the gallows for asset preservation”
-GoldFix Premium Subscriber
Today:
* Gold is poised for greatness above $2088
* Premium: Bitcoin, Stocks, and CTA positioning
Yesterday’s Activity:
US equities rallied on Friday, with the Nasdaq closing at an all-time high. Gold roofed on fresh buying
Market News:
NOTABLE HEADLINES
* Fed Chair Powell is expected to double down on his message that there’s no rush for the Fed to cut rates when he delivers in semi-annual testimony to the House committee and a Senate panel on Wednesday and Thursday, respectively, according to Bloomberg.
* US congressional leaders released the text of a bill to fund the government through September 30th and avert a government shutdown- kicking less
* Former US President Donald Trump won the Michigan Republican caucuses
* Fitch affirmed the US at AA+; Outlook Stable.- POTUS
* Fitch downgraded New York Community Bancorp’s (NYCB) rating
* Top MSM News Links
GEOPOLITICS
* "Opec+ members led by Saudi Arabia and Russia have extended the latest round of voluntary cuts to oil production for another three months
* US official said on Saturday that the outlines of a Gaza peace deal are in place and it depends on Hamas agreeing to release hostages, according to Reuters.
* More
Some headlines via NewSquawk or DataTrek
Data on Deck:
* MONDAY, MARCH 4 12:00 pm Philadelphia Fed President Tom Harker
* TUESDAY, MARCH 5 10:00 am ISM services Feb.
* WEDNESDAY, MARCH 6 10:00 am Fed Chair testifies to Congress
* THURSDAY, MARCH 7 Fed Chair Jerome Powell testifies to Congress
* FRIDAY, MARCH 8 U.S. NFP unemployment rate
Markets/Metals Commentary (Charts):
Comment:
* Gold- What we’d like to see next
* Silver- 25.27 basis May Contract now according to Michael Oliver is key
A final long -term “On board!” signal will be rendered with a monthly close this month at $25.27 (that trigger adjusts down monthly). It ’s based on 36 -mo. avg. momentum. That chart was in a February 18th report. Again, that is not an initial signal to be long, recent action justifies that. But a final table pounder buy signal. Tonal change in silver upside is highly likely at that point forward.
* Oil-
* Stocks-
* BTC/ETH-
* Bonds-
Premium Attached:
* DB CTA Analysis
* BOA raises their 2024 S/P Target
* MSA excerpt
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