Don’t miss Mish’s 2023 Market Outlook, now available electronically!
From page 55 of How to increase your wealth in 2023:
“Overall, gold futures have the lion’s share of our interest (as mentioned earlier in this outlook). We have written about the silver/gold ratio and how it has traditionally been a reliable indicator of inflation. Our thesis, however, is that both are doing well, but gold is exploding higher and faster.”
The weekly SPDR Gold Shares (GLD) chart has broken above the 50-week moving average with a strong finish for the first week of January.
We predict the price of gold could double!
With failed central bank policies potentially leading to more economic chaos, added the weakening US dollar, you only need to keep an eye out for a few market drivers.
Several factors, including inflation, industrial demand, low inventories, market tightness, and the gold-to-silver price ratio near historical levels, lead management to believe silver prices are also likely to rise dramatically in 2023.
“Both gold and silver are in bullish weekly phases. Both clearly outperform the benchmark. Both have a lot of upside potential in terms of momentum. Should the 50-WMA cross over the 200-WMA in real motion, it would be the final technical indicator to suggest much higher prices. I’m going to kick things off here and say that gold can see $5000 an ounce by 2024. — How to increase your wealth in 2023
And that’s not all we predict.
In our ten macro themes with visual perspectives, we cover geopolitical challenges, climate change, inflationary pressures, social unrest and government spending, to name a few.
Additionally, many of our top picks have already started making big strides — and it’s only in the first week of the year! Names like TECK Resources (TECK) and emerging markets like Mexico (EWW) had an explosive week.
Over the past year, many investors have been unaware of the impact higher interest rates would have on indices and the overall stock market. But not us. We ended the year in the green. And after this past week we’re up significantly and already significantly outperformed the S&P 500.
We wrote this e-book to help you have a very profitable 2023. We wrote it to give you direction and help you block out the media noise. Realizing your potential to capitalize on these trends might be easier than you think.
click here if you would like a free copy Mish’s 2023 Market Outlook as an e-book in your inbox.
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- S&P 500 (SPY): 384 support, 392 resistance.
- Russell 2000 (IWM): 172 central support, 180 resistance.
- Dow (DIA): 330 support, 337 resistance.
- Nasdaq (QQQ): 265 support, 272 resistance.
- Regional Banks (KRE): 56 support, 61 resistance.
- Semiconductor (SMH): 205 support, 216 resistance.
- Transport (IYT): 208 central support, 215 now resistance.
- Biotechnology (IBB): 130 rotational support, 138 overhead resistance.
- Retail (XRT): 60 key support, 66 now resistance.
Misch Schneider
MarketGauge.com
Director of Trade Research and Education
Wade Dawson
MarketGauge.com
portfolio manager
Misch Schneider serves as director of trading education at MarketGauge.com. For nearly 20 years, MarketGauge.com has provided financial information and training to thousands of individuals, major financial institutions and publications such as Barron’s, Fidelity, ILX Systems, Thomson Reuters and Bank of America. In 2017, MarketWatch, owned by Dow Jones, named Mish one of the top 50 financial professionals to follow on Twitter. In 2018, Mish was the winner of Top Stock Pick of the year for RealVision.
