Jim welcomes back John Kosar CMT, Director of Research at Asbury Research. In the S&P 500 Index, John sees it as up against resistance and is looking for a pullback before it advances through resistance levels. On a global basis, John points out strength this year in base metals, energy, and agriculture, and believes this is indicating early signs of global growth and the lessening of global deflation fears. As to gold, John sees this as the early phase of a major bull market, but the positioning of smart money traders are telling him gold is currently overvalued, and it’s not the time to jump in. In oil, the charts show positive momentum, and John believes oil moves higher from here. Also in this segment, Ryan Puplava has this week’s Market Wrap-up, and Frank Holmes, CEO of US Global Investors, covers the gold and commodity markets with Jim.
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