Best/Worst Performers:
Week’s Best Performer: WTI Crude Oil +9.7%
Week’s Worst Performer: Shanghai Composite (2.2%)
Broader Market Commentary:
The overall broader market continues to churn higher, and is now breaching that pivotal 2,000 threshold on the S&P 500, which would catapult the S&P 500 into its higher 100-point trading range (2,000-2,100). While euphoria seemingly has returned to the markets, the Lumber-Gold relative performance chart continues to signal caution, and the head and shoulders technical pattern is still reason to tread lightly. In fact, if the S&P does not convincingly hold about this critical 2,000 mark, and closes next week below on high volume, we could see the beginnings of another massive sell-off. Obviously, Janet Yellen will have something to say about this. A rate hike next week would almost guarantee we head back towards the 1,800 support level, while any magnified dovishness out of the Fed could solidify the market’s recent rise.
aceloewgold
lazbird37
Ace of Swords
