October 27, 2019
Weekly Market Outlook
By Keith Schneider
Don’t get me wrong, equity markets look poised to surge into year-end, but the longer-term weekly charts are still looking heavy from a momentum perspective.
The exception to this is the three-month performance of the NASDAQ 100 which is now up +.14% during this rolling timeframe. It got a little help from the Semis which surged on great earnings from LRCX (Lam Research) and INTC (Intel).
Keep an eye on the emergency exits as buy and hold strategies always look best as the markets hit all-time highs.
Beware, the king of buy and hold, Warren Bugget, is taking a different approach…
Mr. Buffet is sitting on a huge pile of cash, waiting for the next serious correction to put his money to work.
Also, worth mentioning is the fact that the Russian stock index is leading global equities over the past 6 months. It is getting a boost as it takes a leading role (although a flawed character) on the world stage. Meanwhile, the US retreats.
The surge in oil markets based on both geo-political stress and an improved economic outlook, assuming you look at all the hard data and liquidity conditions.
Putin’s pivot from US bonds to gold has not hurt either.
This week’s highlights are:
Best wishes for your trading,