December 22, 2019
Weekly Market Outlook
By Keith Schneider
Nothing like an impeachment of the President to fuel the markets to new highs. Talking about counter intuitive, Tesla hit also all-time highs and closed out the week over $400, destroying short sellers who have lost billions in one of the most hated stocks by Wall Street pros. The short covering may not be over yet either, as the recent price action could attract even more new buyers once the short-term overbought situation works itself off. As the chart above shows, we hit the top of the trading multiyear trading channel, an important annual floor trader pivot (R1) and the upper trendline of relative performance versus the S&P500 that started in mid-2017.
This week’s highlights are:
This week’s video will take a deeper look into Gold and commodities and what that might mean for equities as we head into the next decade. This week we launched our Alpha Options service which is a quant model that plays risk on/off with options.
Best Wishes for your trading
Keith Schneider
CEO -Marketgauge.com
Every week you'll gain actionable insight with: