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325 days ago

#Gold shines amid uncertainty, weaker #dollar. #trading

Traders see gold as hedge against uncertainty, weaker dollar. The weakest jobless claims since October 2021 sent the dollar into a tailspin, benefitting gold. But also, given stocks have rallied significantly and many are still doubting the rally, traders are betting on gold as a portfolio hedge. 

326 days ago

Stocks: June seasonality in pre-election years $SPY #trading

Seasonality can be useful in assessing probabilities. Historically, June tends to be a positive month for the US stock market in pre-election years. Source: Ryan Detrick

#Stocks

327 days ago

Speculative bets in tech stocks increase $QQQ #trading
"It's not just the price that's gone up. Speculative fervor is coming back as well. In a note to clients at the end of last week, Deutsche Bank pointed out that the volume of call-option buying in tech and Mega Cap Growth is nearing its highest levels of the pandemic era." Source: Bloomberg
#Stocks

328 days ago

S&P 500 - technicals signal ‘overbought’ $SPY $QQQ

Bespoke Investment Group's graph below shows the S&P 500 closing 2.47 standard deviations above its 50-day moving average to fall into the “extreme category.” Source: Bloomberg

#Stocks

329 days ago

Oil rallies after Saudi Arabia cuts. $USO $XLE $SPY #trading

It’s fascinating to see oil rally after discussed it just last week. But what exactly is happening? 
Oil first jumped on Friday and now this morning it’s continuing to do so. Behind the surge, at its Sunday OPEC+ meeting, Saudi Arabia pledged to cut production again. This time by an extra 1 million barrel-a-day of supply. 
Clearly, the Saudis are trying to stabilise oil markets, despite Russia not playing along. Will it be enough? Most likely it could be for now to stabilise markets, but it doesn’t mean oil will soar back to its October 2022 levels either.

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