Most indices are shorted by retail. Gold remains mixed along with EURUSD and GBPUSD. Metals are still the top bought asset on the list.

How the heck is gold going up on, while USD is ALSO going up?!?

Before you fall into the trap of just thinking markets are manipulated, here is the reason!

- Gold is going up because globally, central banks are beginning to cut interest rates. They're doing so because economies are slowing, and inflation is coming down. Today, we saw a surprise rate cut from the Swiss national bank, and implications that the bank of England will also be cutting soon. We've also seen the ECB and bank of Canada already cut rates. Globally, this loosening of monetary policy is very bullish for gold!

- Meanwhile, the USD is going up because of the Federal reserve's cautious and slow approach to cutting interest rates - since strong growth has led to persistent US inflation. So - while other banks are cutting rates, the fed is not. This divergence makes the dollar look strong relative to its peers.

Before you get frustrated and convince yourself that its all one big scam - do your homework! The dollar and gold CAN move in the same direction, and it makes total sense if you know your fundamentals.

Trade safe.

Nick

GBPUSD is now leaning bullish on COT sentiment and bearish on retail sentiment. Keeping rates the same now puts pressure on the Fed. The Fed may now consider keeping interest high until CPI does move where they want.

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The inflationary trend in the UK shows us much more promise than in the US, where there is no real trend at all. CPI in the US is in the same spot it was one year ago suggesting no progression at all.

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Gold 4H Chart Update:

Price action looking very strong here. Price was able to breakout of this 4H downtrend channel, and holding steady at the 2300 support level on the daily chart.

My average entry price is about 2307. All updates have been shared in the VIP channel since I took this trade with members.

On the fundamentals side, things also look strong. Last night, we had weaker than expected PMI numbers out of Europe, continuing to suggest slowdown in global economies could lead to more rate cuts. A bullish case for gold!

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- Nick

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Ouch! Gave back some serious unrealized gains with that hotter than expected PMI numbers out of the US.

Holding, but if price breaks support I’ll be taking profits on my remaining position.

- Nick

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The EdgeFinder struggles to pick a side when it comes to the stock market and the S&P which has remained a neutral score for some time. Despite this, the index has continued to move higher each week without much hesitation.

The problem with this is that there are only a few companies that prop prices higher, while the rest stumble. Now that NVDA has been falling the past few days, index returns are limited to the upside or mute for gains.

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Out of the Big Three, blue chips are the only ones to prevail today. The S&P and NAS had a rather muted open this morning, but the US30 ripped higher. The correlation between this index and the rest of the market have been a bit divergent as the US30 has been struggling to keep up with the other market rallies.

There has been speculation of a massive rotation from heavy speculative plays such as the AI trade with NVDA, AAPL, MSFT, AMZN, etc. to be in more reliable companies with dividends and more stability in high interest rate environments.

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Gold remains the only clear bias when looking at USD related assets. As the metal remains a strong bullish signal on the EdgeFinder, prices finally start to rebound from last week's levels. A major obstacle for gold, however, is the dollar's strength as rate cut hopes dwindle.

Other countries have begun to cut rates which could be a sign that the US will follow suit at some point this year. Gold could serve as a great hedge against the 'looming' correction and weaker dollar in the next couple years.

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Retail traders are still bearish on the UK100, USDJPY, GER30 and SPX500. The NASDAQ and gold remain mixed while other metals are the top bought. The RUSSELL- the most interest rate sensitive index - is majority long by retail traders as well.

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Smart Money is buying oil, bond notes, and gold. Meanwhile, institutions continue to retreat from the indices. This could be a precursor to a correction in the stock market, especially if NVDA cracks.
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✅ Entries, exits, SL, & full analysis
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Gold 4H Chart:

I am still long, curious to see if price action can find support in this area.

Fundamentally I still like the global trend towards rate cuts, uncertainty with upcoming elections, and geopolitics globally still under the surface.

- Nick