Keith Schneider Blog | Talkmarkets | Page 1
CEO and Co-Founder of MarketGauge
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30+ Years of trading experience; Current money manager, former floor trader, & member of all NY Commodities Exchanges. Co-founded Dataview, LLC, MarketGauge.com , and MarketVision, along with being the Developer of MarketGauge, HotScans, The Nuggets List and many of the ... more

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Weekly Outlook: Soft Commodities Firming
Three key US equity stock indexes (SPY, QQQ, DIA) modestly sold-off, -1.0% on average while longer-term laggards Small and Mid-Caps (IWM and MDY) improved.
The Election Countdown Continues
The key US Equity stock indexes (SPY, QQQ, IWM, DIA​​​​​​​) all digested their recent gains and closed within +/- 1% of the prior weeks close.
The Chopfest Intensifies
Virtually all assumptions about everything and anything are up for grabs. One thing that is a certainty is that volatility will persist.
Gold Seasonals Wreaking Havoc
The leadership shifts we saw over the past few weeks reversed with Growth closing strong on Friday. However, one exception, was precious metals which broke down hard and remained weak although the longer-term trend is still intact.
Changing Of The Guard - Sunday, September 20
US equity markets mostly retreated, led by the Nasdaq 100 which was down -1.32% for the week. The major theme is that rotation is occurring across all asset classes with new leadership appearing.
Risk Off Returns
The rotation out of growth stocks into commodity plays continued this week as well as stronger performance by foreign equities. One huge divergence in the commodity arena was the -10% drop in Oil and Oil Services.
A Classic Standoff
Markets retreated this week correcting almost 10% after setting new all-time highs on an intraday basis in two US Equity (SPY, QQQ) benchmarks.
Alternate Universes
Equity markets mostly recovered from an early swoon this week buoyed by stellar performance from digital tech giants while safety plays got ignored.
Silver Entering Ludicrous Mode
The one exceptional move in markets this week was in precious metals which broke free of its shackles of trading in lockstep with equities, led by silver that rose + 17.7% for the week. It was the biggest weekly move in over 40 years.
Weekend Visit With The Economic Modern Family
With Daily’s recently titled “Granny Retail Hangs Tough” and “Granddad Russell 2000 Takes the Lead,” no wonder we saw rotation out of tech and into the matriarch and patriarch of the Economic Modern Family.
TSLA Using Top Secret Space X Algo
Using stimulus money, hordes of Robinhood traders have used their new riches to buy TSLA and other Nasdaq stocks, helping Elon Musk to become richer than even Warren Buffet.
Markets Are Free ... To Go Up
The Nasdaq 100 closed the week at new all-time highs, +1.65%, while the Dow Industrials was down -.2%. In fact, YTD, the Dow is down -9.36% while the Nasdaq 100 is up 18.62%, certainly a tale of two markets.
Gold Bugs Buzzing With Joy
Current US business debt is double what is was in 1970, a few years before commodities exploded, so it is not surprising gold is close to the 2000 per ounce and all-time highs and leading almost all other asset classes over the past year.
Powell Struggling, Not Shrugging
US equity markets closed up on the week, led by the Nasdaq 100 which was up +3.5%. The news of a spike in the spread of the virus, triggered Apple to close stores in several states. Equity markets promptly sold off, closing on their daily lows.
You Keep Me Hanging On'
US Equity Markets reversed course and closed down -5% for the week on average. Risk gauges followed suit and closed in risk off mode. The selloff was largely a reaction to the Feds plans regarding rates heading into in 2022.
What Virus?
This monster rally was all on the heels of a robust jobs report (released Friday morning) that showed unemployment is just 13.3%. Considering the unprecedented amount of bailout money, it is possible that Mr. Market has it right.
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