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Global economic uncertainty pushes equity markets to their lowest weekly close since March 23.
1. Global economy slowing: This past week China, EU, Japan all reported softer than expected global data .
2. FOMC hiking interest rates: FOMC has hiked rates 3 times in 2018 and is expected to hike rates on Wednesday to 2.5%.
3. Global Trade uncertainty: China/US trade tension has created uncertainty all over the globe. Companies, Governments and Central Banks don’t know how to plan, hire, or what tariffs might effect them in 2019 and beyond?
4. BREXIT uncertainty
5. Oil Market / OPEC / Saudi Arabia: Crude Oil is -10.5% YTD and 33% off the October 3, 2018 highs of $77 a barrel.
6. Italy budget and EU banking problems persist
7. US Housing market cooling significantly
As we enter the second half of December have a look at MTD performance:
• Precious metals trading well despite stronger US Dollar (Gold +1.3% Silver +2.9%)
• Energy market can not hold a bid (any rally above $53 has been sold).
• Global Equities technically look horrible. S&P 500 closed below 50 and 100 day moving averages. Led lower by small caps, technology and transportation sectors.
• Financial ETF -12% YTD, 17% off September high
• Technology ETF +2% YTD, 15% off October high
• Transportation ETF -10%, 18% off September high
• Home Builders ETF -24%, YTD, 30% off January high.
YTD Heat Map by Company & Sector:
Video’s to watch from this past week:
This Past Week Larry was Live on TV with TD Ameritrade discussing bearish view on FANG and US Equities
Incase you missed it: Most watched live webinars from this past week:
Mark Yusko of Morgan Creek Capital discussing global market opportunities & blockchain
Brynne Kelly and Mike Korn Talking Energy
Vince Lanci and Tom McEntee: Option School
Vince Lanci Teaching How Options Volatility Works
Mark Fisher stops by and explains why stocks and bonds are a sale while Natural Gas is a buy.
This past week in our live stream chat room we spoke with:
Larry Benedict, Trader
Mark Fisher, frequent CNBC guest & Author, The Logical Trader
Tony Greer, TG Macro
Adam Collins, Movement Capital
Phil Flynn, The Price Group and Fox Business
Brynne Kelly, The Fundamental Angle
Joe Vaclavik, The Standard Grain
Tracy Shuchart, Trader
Tom McEntee, Trader
Vince Lanci, Echo Bay Partners
Andy Lebow, Commodity Research Group
Ed Meir, Commodity Research Group
Ben Ryan, Commodity Research Group
Dave Floyd, Aspen Trading
Mike Korn, Commodity Trader
Mark Yusko, Morgan Creek Capital
Have a nice weekend,