What‘s Not To Love About These Great Bull Runs?

(…) Gold and silver fireworks arrived, and more is to come! What better proof than a broad-based advance across the sector, starting with both metals, and extending to gold and silver miners left and right. Not to mention the copper fires burning brightly – if you were listening to my incessant red metal bullish calls, you‘re very happy now. And just as in the precious metals, there is more to come here too.

And as the Fed continues playing ostrich when it comes to action, commodities including oil continue doing great. While black gold consolidated over the last few sessions, it remains primed to go higher.

Bitcoin is also enjoying upside momentum as it aims to clear the 50-day moving average vicinity. Its uptrend is gradually reasserting itself – patience required still. But it‘s the steep gains in other cryptos such as Ethereum making new highs practically on a daily basis, that is catching much attention. ETH/USD looks short-term extended though, and I would prefer waiting for a pullback, especially given the last two candles‘ shape (both having significant knots – today is shaping up to be a day of more upside rejection).

Let‘s move right into the charts (all courtesy of www.stockcharts.com).

S&P 500 Outlook

S&P 500

We‘re again at the upper border of the Bollinger Bands, and the daily indicators are constructive with more room to grow. We‘re staring at a positive week ahead.

Credit Markets

HYG, LQD and TLT

The corporate credit markets did waver a little on the day, investment grade bonds more so than the high yield ones, which is understandable given the long-dated Treasuries setback.

Technology and Value

tech, NYFANG and value

Technology rebound continues, and should so aided by the recent earnings announced. I am not looking for a meaningful dip in NDX or whichever part of the tech sector over the nearest days as $NYFANG did its job quite well on Friday. Yet again, value stocks continued their steep ascent come hell or high water.

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