Today is finally the day. Britain's long-awaited referendum on whether or not the U.K. exits the E.U. will finally happen. After months of polls showing that a narrow majority of Britons favored staying with the E.U., recent surveys have shown the country's voters leaning toward leaving the 28-nation E.U. despite the potential for strong economic aftershocks in the U.K. and across the world. What is certain is that global markets are likely to see heavy trading on Friday, as investors adjust their holdings based on Britain's decision.
Which leads me to today's poll question:
As always, I would love to hear your thoughts on the subject. Please take a moment to vote and then leave a comment.
Chart 1. Gold Vs. S&P 500: Saucer Reversal Pattern
Chart courtesy of tradingview.com
The Gold/S&P 500 ratio made a new high this past February breaking above both the August 2015 and October 2014 maximums. It has finally managed to surpass the depressing red resistance. The break was strong and violent pushing the ratio from 0.51 low to 0.68 high. After it runs out of steam we always witness a pullback ( the market digests the price action), the ratio returned to the point of the break at the end of May and now is starting the next round up.
This is a very healthy market move as the price pulled back, but hasn’t broken below the starting point. The first higher high and higher lower are in place now. Once we get a new higher high, we can draw an uptrend with confirmed touch points. Continue reading "Gold Vs. S&P 500: Fly To Safety?"→
Today's the day that many have been waiting for... judgement day for Janet Yellen and the Federal Reserve. I thought we would do a simple poll today to see which way everyone here thinks the Fed will vote.
Please take a moment to vote and as always, I would love to hear your thoughts on the Fed decision.
Don't be surprised if the stock market stabilizes or bounces back in the next few days. The markets are due for a short-term rally after the dramatic drop of the last six days. This usually happens after a sell-off. But, buyer beware. Anyone who automatically assumes this is another easy "buying opportunity" should do so with caution. I don't think this is over yet and here are a couple of reasons why:
1. We are still waiting on the Fed to announce if they will raise rates in September.
2. China's stock market extended its steep losses as lower interest rates failed to halt a $5 trillion loss.
Will the market head higher or lower from here? No one really knows, but we are certainly in for a volatile ride for a while I suspect. That leads me to a simple poll question today...
As always, take a moment to vote and leave a comment on the markets. I'd love to hear what you have to say.
It doesn't matter if you are a Republican, Democrat or an Independent voter, tonight's debate promises to be both entertaining and unpredictable, all of which make great television. Think of it like reality TV, only this is real, as 10 Republican candidates vie for attention to break out and catch "The Donald."
In today's poll, I'm asking if you are going to watch what promises to be the most-watched political debate in history. I have two questions for you.
Thank you for taking the time to complete the poll. Whatever happens in tonight's debate, I'm sure it is going to be, if nothing else, entertaining TV.
Every success with MarketClub, Adam Hewison