Trump Headlines Continue to Drive Market Direction:
Precious Metals, Gold, Gold & Silver Miners, Crypto, AI/ Tech Stocks, helped lead the NASDAQ to another slightly higher closing high on Friday. That makes for good headline risk, but not much else.
It was more of a retest than anything else
The previous high was on Monday, July 28th, where the $VIX popped on a bad Jobs Report, and Trump's firing of the Bureau of Labor Statistics Commissioner. That caused stocks to reverse, and that painting a bearish engulfing candle on the chart, and drew some bears off the sidelines.
In hindsight that turned out to be another bear trap, and short covering on talk of a Russia deal helped add more fuel to the fire on Friday.
Admit you were caught in a bear trap. The trend is higher. pic.twitter.com/QFlModpOVU
— Veteran Market Timer (@3Xtraders) August 5, 2025
@CNBCFastMoney Apple $AAPL breaks out. Looks like you missed the boat again! @CarterBWorth pic.twitter.com/DuGxzhwIXB
— Veteran Market Timer (@3Xtraders) August 8, 2025
I think another thing that's helping to drive markets is an increase in speculative money coming out of foreign markets.
India Loves Gold
Wealthy Indians Reshape Portfolios and Embrace Gold https://t.co/cfsdb4w1AV
— Veteran Market Timer (@3Xtraders) August 8, 2025
Israel has also recently pulled back, and low and behold a bullish call on gold miners is published at the Jerusalem Post
A Clue: Gold Miners Poised for Breakout Relative to Bullion - The Jerusalem Post https://t.co/ZiG1oc4CxL
— Veteran Market Timer (@3Xtraders) August 6, 2025
With 24/7 trading coming into existence, and the US market increasingly open to foreign investors, not to mention the evolution of program trading, we are currently trading a market environment unlike any other in history, and it's important to try to stay on the right side of the trade.
Don't fight the trend pic.twitter.com/Uo9XkdAV9X
— Veteran Market Timer (@3Xtraders) August 8, 2025
Trump Headlines Help Drive Precious Metals
The Rally in Precious Metals continued, with the help of some fake news on Friday
Gold prices are on a rollercoaster after a curious tariff ruling that the White House called ‘misinformation’ CNN
“The White House intends to issue an executive order in the near future
clarifying misinformation about the tariffing of gold bars and other
specialty products,” a White House official confirmed to CNN on Friday
afternoon.
We've seen this playbook used before, and especially on weekly options expiration Fridays. Typically a rumor is widely reported, only to be walked back, after Friday's close.
Today is Saturday, and I still can't tell you what the truth of the matter is.
A Trump Executive order also helped drive Crypto markets going into the end of the week.
Friday CBS NEWS
Trump wants your 401(k) to access crypto and private equity. Here's what to know. cbsnews.com
Forbes Saturday
Trump Just Dropped A $12.2 Trillion Crypto Price Bombshell—Sending Bitcoin, Ethereum And XRP Sharply Higher Forbes Saturday
But wait there's more...!
Trump crypto firm plans launch of public company that will hold family token Furtune.com
The next Trump news is set for his meeting with Vladimir Putin in Alaska on Friday August Options Expiration
Trump says his meeting with Putin to take place in Alaska on Friday Jerusalem Post
This could be another wild ride this week!
Take care, AA
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