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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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.
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.
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.
Bubble Trouble Or Not?
US Equity markets regained its footing with most key benchmarks gaining 3% for the week. The NASDAQ 100 is up over 8% YTD while the IWM (Grandpa Russell) is down -18.58% during the same period.
Seismic Shift In Equity Markets
US equity markets retreated this week down between -.7 to -5.5%, but found support at their 50 day moving averages, preventing a meltdown in the making. One short term sentiment indicator hit oversold levels which helped to trigger the bounce.
Sayonara Closed Economy
Oil and energy bounced off very depressed prices ignoring the weakness in the airlines and markets stayed focused on a gradual reopening of the economy.
Fill It Up, Please
After devouring the bears this month (+13% on average), the bulls needed some Tums to digest overeating this week. What happens next seems to be a coin toss.
Major Overhead Supply Ahead?
Assuming things are still status quo and Kim Jong Un does not launch into the hereafter destabilizing North Korea, markets might have a bit more upside before hitting major overhead supply.
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