Latest Bounce And Rally Of The Stock Market – Video

ByTTT

Discussing Precious Metals’ latest bounce and rally and recent trends in the stock market are Chris Vermeulen, founder of The Technical Traders, and Kerry Lutz from the  Financial Survivor Network.

The markets had a relatively large correction and huge sell-off in the SPY 500 in the last couple of weeks. Panic took hold, and the VIX spiked. From the low to the high, we swung 4-5% on a daily basis. With the recent bullish news from the Fed, we are starting to see this turnaround. Is this a bounce or a rally or perhaps a knee-jerk reaction? As positive news hits the wires, money flows back into the market, buying the dip in the lucrative speculative stocks. Having said this, the market is still showing signs of fatigue, so be careful of the news-based one-day bounce. As technical analysts, we watch the charts, not the news.

Fear often results in traders liquidating their stock holdings, causing gold, silver, and their miners to be pulled down as well. Recently the precious metal sector charts show higher highs and lower lows, meaning that they are chopping around all over the place. The hope is that precious metals are putting in a base while gearing up for a swing to the upside.

On the other hand, Oil has gone through a series of rallies and controlled pullbacks or pauses. The charts indicate a running correction to the upside. With world events, supply chain issues, and so on, will we hit the $100 mark? And if we do, what could this mean for the stock market?

Chris and Kerry continue their discussion by delving into the US Dollar, Natural Gas, Rates, Bonds, and Commodities.

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Disclaimer: None of this material is meant to be construed as investment advice. It is for education and entertainment purposes only. The video is accurate as of the posting date but may not be accurate in the future.