September 8, 2019
Weekly Market Outlook
By Keith Schneider
Virtually all global equity markets rallied led by Mexico in the Americas, Korea and China in Asia, and Russia in Europe. The theme here is that weak performers and energy exporters found buyers. Also noteworthy is that speculative sectors and growth stocks led the rally, while shipping stocks look like a bottom is in. What was missing was confirming volume.
This actually makes sense from a global macro perspective since the global economy might have a good reason to breath a sigh of relief. The tensions in Hong Kong have a good chance of calming down and trade talks between China and the US are on track to resume sometime soon. The weak unconvincing volume is also logical as neither of these two developments are a layup.
This week’s highlights are:
On a final note for this week US Equities, even though this weeks price action was very positive we still need to clear highs set in early May on good volume to set the stage for a massive blow off.
Our Real Motion indicators have been ahead of the curve finding reversals in the parabolic moves in Bonds and Gold.
Best Wishes for your trading!
CEO – MarketGauge.com