June 16, 2019
Weekly Market Outlook
By Keith Schneider
US Equities markets digested gains from early June and ended the week up about +.6% on average. The message is mixed with cyclical sectors not following the key indexes price performance. Emerging markets submerged while soft commodities firmed.
Gold and gold miners (GDX) also look poised to run. Gold has received a lot of good press from macro gurus like Paul Tudor Jones whom I traded alongside of in the commodities pits in the World Trade Center.
This was when open outcry, which incorporated listening to the level of screaming while using hand drawn charts to read pure price action, was still king. Tape reading is a very useful skill in today's non- sensical markets (for more about this lost art www.marketgauge.com/education/the-am-trader/)
This week’s highlights are:
The takeaway from all the above is markets continue to give very mixed signals and we are still a tweet away from just about anything. The direction will most likely be determined by which way we move out of the recent compression zone.
Don’t forget to listen to Mish’s most recent bi weekly interview on KKOB, plus check out her new book ……
Best Wishes for your trading!
CEO – MarketGauge.com