June 23, 2019
Weekly Market Outlook
By Keith Schneider
US Equities markets ripped higher after the Fed announced it’s intention to lower rates ( coming soon to a bank near you ).US Equity benchmarks were up between +1.4% and +3.3% depending on the poison you pick.
In fact the S & P 500 hit new all time highs and paused on Friday, putting in a inside day. Which way it breaks from here will be telling and could be setting up for bear trap or just a pause before an explosion to the upside.
Emerging markets smartly recovered the dollar got hit, while Gold and Gold miners soared. Gold put in its best performance in years, breaking out of a six year base. The amount of negative yielding debt hit $13 trillion dollars, so the move in Gold is not surprising.
This week’s highlights are:
Considering that President Trump and Chairman Xi will be meeting this week at the G20 to discuss the current trade war anything is possible, and we are a tweet away from major move. It remains to be to which direction we move out of the current vortex.
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Best Wishes for your trading!
CEO – MarketGauge.com