This was the standout sector last week: XLE has been consolidating for a few weeks as it remains bullish and was oversold but is rapidly moving higher to an overbought level. This is another good ETF to search inside for bullish set ups. Last week I called out EOG at $80.07 which had a …
Standout Sector: XLE–The Energy Select SPDR Fund Read More »
We’ve been pointing out for several weeks the gold chart below, where we had two levels of resistance, a confluence of levels, that if breached could lend itself to higher highs. I’ve located several areas of resistance that have been surpassed as the metal moves to the next levels. $1800 and $1850 were the first …
April new home sales fall and March was revised lower, 5.9% decline m/m Home prices pop more than 13% – (that’s not inflationary?) Fed speakers try to quell inflationary worries – see bullet above, it’s not working Fed’s Clarida says the time will come to talk tapering Gold futures touch 1900 after the close of trading …
Team of Fed Speakers Push Back on Inflation Worries but Also Talk Taper Read More »
US Equity Index Friday Snapshot: Weekly Snapshot Shows 2nd Week of Losses on the Several Indexes as the Gold Rally Continues: Market Talk Equities closed mixed with the S&P (0.1%) and the Dow +0.4% as markets trailed lower over the course of the day, but ended off its lows. Sectors finished mixed with Financials and Energy …
Tuesday’s Market Snapshot: Gold led the markets as the precious metal experiences momentum. Market Commentary/Looking Ahead Markets opened lower and with a small selloff that took the S&P 500 to a support level in the 4150 area. For most of the day it consolidated as news from multiple angles stalled any direction. There was the …
The markets continue to run hot despite some news that might be considered a headwind. Inflation and higher rates are what may come to mind but these two can work quite well as markets grind higher. The underlying area of concern in an economy experiencing inflation is the ability to pay for it, in stride, …
April Payrolls Report Misses Expectations | Unemployment At 6.1% Read More »
Markets finished higher Thursday after a bout of seesaw trading with gains coming at the last hour into the close. The Dow Jones set a new record high and the Nasdaq lagged. Financials were the best performing sector. Consumer staples outperformed on earnings in the group. Communication services also finished strong. Healthcare trailed the market …
Financials, Staples Lead Markets Higher | Weekly Initial Jobless Claims Beat Read More »
Semiconductors are a leading indicator and are widely followed as a proxy for growth. We monitor the group through the ETF symbol SMH mentioned above. We’ve seen several names in the group, and tech names in general, report great earnings and then sell off. ON Semiconductor is a good example of that type of price …
Rate Talk Wobbles Markets | Semiconductor ETF Changes Trend Read More »
After a strong overnight rally Wednesday, the US equity markets took a bit of a dive at the open but managed to finish mostly higher in Thursday trading, ending just off best levels after the morning to midday weakness. Even with that volatility, the S&P topped Monday’s record close, but small-caps were weaker. Communications services …
Big Tech Crushes Numbers | GDP Shows Strong Results Read More »
The bullish narrative coupled with the soaring asset prices, of all types, has the world thinking bubble. It’s hard to argue against that when lumber prices are off the charts, gasoline is up the most since anyone can remember, most homes for sale wind up in a bidding war where cash wins the game, and …
Seesaw Markets Continue To Test Confidence | March New Home Sales Surge +20.7% Read More »
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