Markets Rallies continues with Light Volume but Oil Continue to Slide
Hello everyone, today is another big rally day for the stock market. DJI, S&P 500, and Nasdaq all had another decent day up. However this is with the lightest volunes in 2 years meaning the prices up are driven by retailers. Another warning sign to keep in mind is the price of oil. Oil is a leading indicator of the economy outlook. It is traded around the world by big institutions. While we see the equity markets continue to flow up with thin volumes and oil continue to slid none stop, this may be signaling the institutions are continue to sell oil due to weak econmy outlook therefore weak future demand for oil but not buying nor selling the equities at this moment. Just a word of caution here not to chase the equities. For myself, I am continuing to hold and having positive outlook on VXX, SOXS, QID, SDS, and Nvidia short…etc.
This is just my own view to share with everyone. Keep in mind Jackson Hole meeting this week and Powell speech this Friday. Market volitity may pick up through this week.
Cheers.
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Retailers must include gold in their portfolio during rate cut cycle and economic slowdown. Consider NEM, GDX, GLD, GDXJ
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