We update the weekly market summary of Wall Street on this Saturday afternoon looking at world headlines that effected the markets. We close out the second trading month of 2020. The Corona (not the beer) Virus is going more & more parabolic outside of China. Italy is the big area to quarantine, many countries getting Italian tourist returning, now infecting their countries. Many events being cancelled, maybe the Japan Olympics too. Supply chain issues in technology, IPhones, Chips and auto. You can't print vaccines or products on the shelf., if there are no workers. They can create a bigger bubble, the markets calling for an emergency rate cut this Monday.......BTFD, on the last 16 minutes of trading on Friday. Italy is quarantining cities,. The stock market is down big for the week, almost 12% from the RECORD HIGH, in correction territory..........BUY MOOR PRECIOUS METALS
The USD went back down toward 98, now at 98.06, down 1.16 for the week. Next level is possibly 101. Euro and Brit pound reversed trend, recovered slightly on Friday, with the Euro at 1.1027, up 1.60.
All charts are weekly candlesticks.
The debt increased a whopping 59.97 billion for one week, a huge increase of $69 per citizen per week.
Dollar to Silver ratio: 1065 
In the previous week we doubled the number of cases, this week we go from 77,661 to 85,187. Numbers look way under-reported.......An interesting indicator to monitor in the non-China areas.
Precious metals were up, up and away, then slammed mid-week, maybe margin sellers looking for liquidity. Silver closed at $16.545, down $1.91, a bad week. Gold closed at 1587, down $59.90 the exact number as it went up last week. Palladium closed at 2500, down 114. Platinum closed under 1000, at 966, down 110 for the week. Considering the sharp rise, then fall in the USD, metals did not break any support levels for the week.
USD stayed above 99 for a week, if a flight to perceived safety go into the USD, a rise over 102 will CRASH the Emerging Markets soon.
S&P down big time from all-time record highs, the markets finally straining due to China supply chain issues......the economy is not that strong, showing the weakness as more companies report earning issues? S&P 500 closed down 383 S&P points for the week.
Dow wiped out almost all of last year's 22% gain
Crypto had a big volatility for the week, down under $9,000, falling a bit off the high, charts look bad for the last two weeks. BTC is down $848 after losing $626 last week but the weekly charts still showing a lower low, topping formation. BTC showing lower highs, see if we see lower lows, having trouble keeping 8K.
Total token being tracked are now at 5158, up an additional 18 for the week. Total marketcap down to 250, down 30 billion for the week. BTC dominance rises to 63.8%, up 1.0% as last week. Steem at #72, up 5 spots, priced at $0.1995 Go Steem, Go SteemLeo.
Keep stacking. Go get you some.
Thanks for following @RollingThunder
Posted via Steemleo