For
the week,
the main stock market
indices were little changed, with the S&P500 losing 0.6% and
the NASDAQ
100 0.7% in the green. The small cap index (Russel 2000) lost 2.6% and is around support.

Precious
metals are on the lower range of the current trading channel. Gold gained 0.6%
and silver fell 1.4%. Nothing new to say about precious metals
except that current levels must be defended, otherwise we will turn
bearish.

WTI was up by 5.8% into the 70$ range. It may fall back and test the 67-68$
level again.

Bitcoin was up by 3.2% and continues flying above the 100k$ level. However, volume was lower, which can be a reversal signal.

The
relative
strength of the US dollar (DXY) was up this week (~107). The
EUR/USD is around 1.05$, the GBP/USD is at 1.26$, and the USD/JPY is at
153.6 JPY.

US M2 money supply at the date of 28th October 2024 was up by 0.42%.

The
national financial
conditions index (NFCI) for the week of 2nd December 2024 loosened by 3.3.% and doesn’t translate signs of financial stress in
the markets.

US

bond yields rose considerably this week, and now sit at 4.241% for the
2-year
and 4.399% for the 10-year.

The
VIX rose slightly to 13.8, but is still at a low level. This means the markets are not
very fearful and investors/speculators are not searching for put
options.

Comment Section

Next week, the FED meeting and rate decision will be the highlight. Then, trading volumes will start decreasing as everybody goes into year-end/Christmas holiday. Enjoy.

Take care, and good luck.