Keith Schneider | TalkMarkets | Page 8
CEO and Co-Founder of MarketGauge
Contributor's Links: MarketGauge
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 educational courses ...more

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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.
Main Street And Wall Street Not Speaking
U.S. stock indexes extended their rally for the most part with the NASDAQ 100 (QQQ) up +1.3% YTD and +6.9% for the week. However, small caps Russell (IWM​) closed -1.5% for the week and down -26.3% for the year.
Leave It On… Or Not
US stock indexes reversed last week’s downdraft (up +7.9 to 14.9%) after getting injections of liquidity from the Fed and more stimulus from Capitol Hill. Small caps and value started to outperform signaling the bottoming process is underway.
Plunge Protection Team Working Overtime
The biggest question hanging in the ether is will the fiscal and monetary easing be enough to offset the impact of the shutdown. Regardless, the chances are likely that this week was the expected technical bounce and we will see new lows.
Are You Ready For More?
The massive drop of almost over 40% in IWM​ this year highlights the extreme liquidity issues facing smaller companies with lower cash reserves and higher debt levels. The Dow, S&P 500 and IWM are all trading beneath their 200-week moving averages.
Gold, Ready …. Or Not?
Equity markets digested last week's dead cat bounce and closed virtually unchanged as the coronavirus takes in toll in both a rising body count and economically.
Gold Miners Leaving Behind Seven-Year Bearish Itch
Gold hit seven-year highs and Gold Miners are looking to break out of a seven-year basing pattern. Volatility jumped and soft commodities (helped by a spreading locust) look poised to join the rally in metals.
Breaking Up Is Hard To Do
The Senate acquitted President Trump this week ending the impeachment saga and China reduced tariffs on $75 billion dollars of US exports. Equity markets loved it, closing up over +3% on decent volume.
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