what market correction, My YTD top Stock pick is hitting all time high. Alibaba is up 91% year to date
Another down week for stocks as the expected summer selloff takes hold, oil gold and silver down but only a little, Bitcoin continues to skyrocket higher , all this and more in my weekly market trend video
while Bitcoin and Bitcoin Cash cool off a bit, Monero surges higher to become the 11 crypto to cross the one Billion mark
Nice start to the week, DOW-30 up $163 as I post this, now lets see if we can hold these gains into the close
After a double inside candle and Yen starting the day weak, I would expect stocks to have a good day to close out the week, but when has this Fed controlled market ever done the expected
Here is my weekly market trend video
Crypto Market Cap now above $159 billion, we now have 12 crypto currencies with market caps above one billion and several more are not far way
I have no idea where this is going but it makes sense to have at least a little speculative capital in this market
Hurricane Harvey is making it tough for people in Texas, but once it is gone there will be a huge rebuilding project and the home sector should benefit, Home Depot and Lowes should do well , and the broader sector XHB ( Homebuilders) should also benefit from hurricane clean up
Break out move in the precious metals, Silver up +2% , Gold +1.5% and miners up +3%
long term bear market not behind us yet, but things in the metals are looking up
YTD
Gold +13%
Silver +9%
Miners +15%
Crypto is on the move again, Market cap at new all time high, we now have 13 Crypto’s with market caps of over one billion
Who said August was a bad month for stocks, Big move today in Tech, only two sectors down barely, Nasdaq and DOW are now positive for the month, another good day tomorrow will have S&P joining them
I think what you are seeing here is a lot of bears calling for a market collapse, these people are short and every time the market rallies they get squeezed out of their shorts causing the market to rally even further.
This market is unreal, look how every sector finished in the green today, S&P 500 needed 13.00 to be positive for the month, it got 14.00 , and joined DOW and Nasdaq with a positive month.
Huge month for the Cryptos , we added 80 billion in market cap, seen Bitcoin fork and then take off in price, Ethereum is back near it’s all time high, litecoin was 4 bucks at beginning of year, now over $70
Here is my weekly look at market trends, lots of good action, how long can it last???