Dear Members,
Precious metals, base metals, and mining stocks have lost significant value, exactly as anticipated. Avoid any new buying for now, but it is advisable to cover short positions. If markets move higher tomorrow—either on the upside or on a rebound—those levels can be used to initiate new sell positions. This week, gold sold at $ 5,409, silver at $94.78 to $97.38, and copper at $603.
Oil prices have moved higher, but as mentioned in our weekly newsletter, we expect oil to come under pressure soon. Crude may struggle to close above $77.55 for three consecutive days. Please monitor the higher-side levels closely as outlined in the weekly report.
Many members have asked for an update on the broader market amid sharp declines across major indexes. The S&P and NASDAQ are trading significantly lower. AI-related stocks are being punished despite strong earnings results. We are not revising our higher targets.
We do not expect the NASDAQ to fall below 23,738—keep this level in mind. It is currently trading around 24,383.
One of my favorite stocks, CRDO, lost huge value even after amazing earnings. I still believe the $95.00 level will be a great buy, and it is a lifetime opportunity to accumulate, so buy without fear. If the market falls, then it can lose value, but the base value is $95.00. This week, AMPX and CIEN will announce earnings and take some long positions, but I am very nervous after what happened to CRDO. I still believe it will move to $500 to $750 by end of 2027.
The Dollar Index is likely to see profit‑booking soon, as it is just one point away from our projected higher-side level.
Grains and soft commodities are expected to move lower.
Thanks & God Bless,
Mahendra Sharma