New Highs On The Horizon

Hello traders everywhere. Once again we are on the verge of new all-time highs for both the S&P 500 (3,027.98) and DOW (27,359.16) as both indexes along with the NASDAQ will post their third straight week of gains. Even though the markets overall will end the week mixed on a daily level, all three indexes will end the weeks with gains of +1.1%, +1.6%, and +1.2% respectively.

Will we see record highs on Monday when trading opens?

Crude oil is going to post a weekly loss of roughly -2.8% as trading closes Friday. This drop is a reflection of how fears of excess supply continue to keep crude prices down even as hopes for coming trade talks boost the outlook for the global economy. And although oil prices have rebounded this year, they are down about 20% in the past year, compared with a nearly 4% climb in U.S. stocks.

Bitcoin continues to disappoint as it's trapped below the $11k market and after posting a weekly gain of +9% last week it gave back a bit of that move this week losing -1.8% trading just above the $10k level at $10,300 right below its 50-day MA. We will need to see a move above $10,949.00 for a potential breakout and move higher.

Key Levels To Watch Next Week:

Every Success,
Jeremy Lutz and

2 thoughts on “New Highs On The Horizon

  1. I see your blog this is very and helpful for me. You give exploring information in this blog that is very informative and helpful for the beginners. Please continuously share these types of blogs. Thank you!

  2. We may found a "New All Time High" again, but thereafter, such gain must provide further significant upward Levels, or at-list sustain at such Higher Levels. This is very crucial as well essential issue because at such Higher Levels, There will be form a Long Term Support Level at around 27000, and if such Support Level found broken, further Trend may turn Bearish.

    Currant movement across the various counters like Stocks, Precious Metals and Oil are quite different then ground realities, "All is not Well" and knowingly or unknowingly, Players may have left or ignored to consider some very important concerned issues. So At this stage, I would like to Focus on up coming Two Quarter's movement, as specially of Last Quarter Performance, October on wards. I think, it will be batter to let us follow "Wait and Watch" Policy.

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