Where to look for outperformance
|S&P 500 remained in the recent tight range, and the opening rip was rejected – providing fine intraday gains for clients (both long and short). S&P 500 isn‘t breaking down, and isn‘t breaking out either – no move just yet, and the intraday area of 5,870 with 40 pts to the upside, captures most of the price action lately. Nasdaq is though starting to diverge a bit lately, and the same applies to industrials and commodities vs. Russell 2000 (smallcaps much sensitive to yields these days), or the finest precious metals upleg called throught the last week and then some.
Comprehensive details and price path as markets think that elections uncertainty is being removed, and are increasingly positioning for a certain outcome, is further discussed premium – the bond market view is pretty clear (and even clearer in the dollar). You‘ve read the extensive weekend analysis, so are in the picture as to what I think about upcoming recession danger and more.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.