Market Mood: Mid October 2020
A quick look at currency, commodities, indices and bitcoin to get a feel for the mood of the market
![Market Mood: Mid October 2020](/content/images/size/w1200/2020/10/oil_rig.jpg)
Let's take a quick look at some indices, commodities, currency and then crypto. Just to get a feel for the markets and try and figure out the general mood.
DXY (Dollar Index)
![](https://stockpicks.co.za/content/images/2020/10/Screen-Shot-2020-10-13-at-08.59.29.png)
Dollar index is just bobbling around now. If we can maintain above 92 then I think a move to the up and turning of the tide to strength is possible.
USDZAR (Rand)
![](https://stockpicks.co.za/content/images/2020/10/Screen-Shot-2020-10-13-at-08.57.05.png)
Hard to make sense of this chart. I don't have a clue. I also think we must remember that the central bank is independent so political things and the negativity of the country influences us to undervalue the Rand.
Long term I think we all know the rand will weaken.
GC (Gold)
![](https://stockpicks.co.za/content/images/2020/10/Screen-Shot-2020-10-13-at-08.54.59-1.png)
A descending triangle and a gap below. Doesn't bode well short term, however long term it is pretty clear the trend is up.
CL (Crude Oil)
![](https://stockpicks.co.za/content/images/2020/10/Screen-Shot-2020-10-13-at-08.52.49.png)
Teetering on the edge. It does not look good to me. I want out of oil and related things.
JTOPI (JSE Top 40)
![](https://stockpicks.co.za/content/images/2020/10/Screen-Shot-2020-10-13-at-09.01.33-1.png)
Sideways and down.
Not somewhere you want to be long term.
GSPC (SP500)
![](https://stockpicks.co.za/content/images/2020/10/Screen-Shot-2020-10-13-at-09.02.28.png)
Trend is well on its way up. Equities 👍
PA (Palladium)
![](https://stockpicks.co.za/content/images/2020/10/Screen-Shot-2020-10-13-at-09.04.26.png)
Palladium certainly is your pal. Strong trend up and higher highs and lows.
New highs coming.
PL (Platinum)
![](https://stockpicks.co.za/content/images/2020/10/Screen-Shot-2020-10-13-at-09.05.47.png)
Not convinced at all by this chart. It is going sideways.
BTCUSD (Bitcoin)
![](https://stockpicks.co.za/content/images/2020/10/Screen-Shot-2020-10-13-at-09.07.04.png)
Bitcoin is looking good. It is trending up nicely. I recently bought some satoshis - not too many - as I'm still learning but it looks solid for now.
Comments ()