September 22, 2019
Weekly Market Outlook
By Keith Schneider
Global equity markets had a moment of self doubt and most country ETFs backed off after digesting lower rates in the US. The thinking behind the tepid market response actually had some logic to it as the Fed stated they were concerned about an economic slowdown. Bullish players that were anticipating a de-escalation in the trade war were shocked on Friday as talks between China and the US were cut short, and longs bailed. One exception to the sell off was the jump in Canadian stocks which closed up 1% for the week. Canada benefited from the jump in oil while ignoring Justin’s blackface scandal.
We ( Don’t) Work cancelled its IPO and that had an unexpected trickle down effect. Rumour has it that We Worker’s tenants are canceling their leases and not ordering up Beyond Meat burgers that would normally be delivered by Uber Eats. Furthermore, this trickled down to the Value/Momentum narrative with Value stocks looking poised to add onto recent gains.
This week’s highlights are:
Another highlight of the week is the deterioration in Market Internals and Sentiment which I will cover in this week’s premium video. Considering all the cross currents, adding expert discretionary trading to your mix is timely and here is the link.
Best Wishes for your trading!
CEO – MarketGauge.com