Chart of the Day: S&P Rallies to New High, Momentum Remains Bullish
The S&P 500 rebounded from morning losses to finish the session at yet another record closing high. The post election price action has been impressive and continues to strongly favor the bulls for the medium term.
Chart of the Day: Gold Holds On, Barely
Gold futures continue to hold on to critical support in the low $1200’s for now, but if the dollar rally continues, it will likely end the short-lived bull market we pointed out back in April.
Chart of the Day: S&P 500 Prints “Inside Day”
The S&P 500 printed an “inside bar” on the daily chart yesterday which is historically a signal of indirection. But the bulls have momentum on their side since the election, leaving the path of least resistance higher.
Oil and Metals Jump React to Trump
Oil futures got caught up in “risk trading” during the election drama. Energy futures sold off hard with global stocks overnight Tuesday and then surged higher as money poured back into risk assets on Wednesday. That was about the extent of the effect that Trump had on the energy markets at least so far. Tyler […]
Chart of the Day: Gold Approaches Key Technical Support
As volatility subsided yesterday in the wake of the election and money flows were still largely “risk-on,” gold futures came under pressure and are now testing key support at $1250/oz.
Chart of the Day: Surge in the 10 Year Yield
The 10 year yield surged back above 2% for the first time since late January yesterday. Stocks were able to withstand the rise given hopes for more growth, but the pace of the rise must slow down.
Why the Gaetz Withdrawal Sparked Yesterday’s Rally
/in Investing, Reports/by Tom EssayeWhat’s in Today’s Report: Why the Gaetz Withdrawal Sparked Yesterday’s Rally