Heading into the next week, the review of last week’s macro market indicators suggested that the markets seemed to be in a better mood. We looked to Gold to continue to consolidate or move lower while Crude Oil continued to rise. The U.S. Dollar Index and Treasuries were biased lower and looking ugly. The Shanghai Composite and Emerging Markets were biased to the downside as well. Volatility looked to remain subdued, keeping the bias higher for the equity index ETF’s SPY, IWM and QQQ. Any move lower could trigger a strong equity buy signal. The Equity Index ETF’s themselves were poised to continue their trends higher, with the QQQ the strongest followed by the IWM and then the SPY.
The week played out with Gold moving lower, and then consolidating while Crude Oil continued higher. The U.S. Dollar continued lower while Treasuries rebounded slightly on the week. The Shanghai Composite had a short week, gapping lower and setting as Emerging Markets moved lower early in the week and then consolidated. Volatility moved back to last week’s highs before pulling in a bit higher, but remained subdued.
The Equity Index ETF’s SPY, IWM, and QQQ chopped up and down with some big range days.
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.
Original post
Which stock should you buy in your very next trade?
With valuations skyrocketing in 2024, many investors are uneasy putting more money into stocks. Unsure where to invest next? Get access to our proven portfolios and discover high-potential opportunities.
In 2024 alone, ProPicks AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. That's an impressive track record.
With portfolios tailored for Dow stocks, S&P stocks, Tech stocks, and Mid Cap stocks, you can explore various wealth-building strategies.