Stocks Reach New Highs
The S&P 500 is now more than 6% above its 200 day simple moving average. And while the trend is clearly still bullish, the complacency in the market paired with the overextended conditions raise the chances of a pullback.
10 Year Note Yield Continues to Fall
The 10 Yr T-Note yield remains below the key 2.50% level and a considerable distance from the long term regression line which suggests a further correction is very plausible.
Bond Bubble
A friend who runs a successful tax lien fund called me this past weekend with an interesting story. The portfolio manager of one of the biggest institutional investors, a $2-plus billion multi-family office on the West Coast, called him last week and told him to expect a bigger allocation soon because he (the PM of […]
Dollar Break-Out
The dollar index violated the 2017 downtrend yesterday which could mark the beginning of the next upswing for the greenback.
Gold Update
Gold futures violated a longstanding downtrend resistance line yesterday as well as established above the $1235 resistance area; two bullish technical developments.
Key Gold Resistance Level
Gold has rebounded solidly this year but continues to stall at key resistance between $1220 and $1235. Until futures establish above that level, the outlook remains neutral with a downside bias.
What Yesterday’s Rate Cut Means for Markets
/in Investing, Reports/by Tom EssayeWhat’s in Today’s Report: What Yesterday’s Rate Cut Means for Markets.