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Weekly Market Recap & Outlook

A week like no other is almost over, and markets have kept their cool. Downside volatility in stocks was superseded with an equally sharp upswing that didn’t pause much on Friday. Credit markets aren’t panicking either – the high TLT open Thursday morning was sold into, and the bets on Fed tightening hadn’t been changed as the yield curve remains just as compressed as it had lately been. Neither the 2-year Treasury is signalling change in expectations as regards the Fed. All we have seen, was a spike in gold and crude oil that was sold as the dust started settling. It must be said that the vigor of S&P 500 price recovery is a good omen, and it happened on improving market breadth with value leading the charge.

So, risk-on appetite returned, and market breadth has significantly improved – within the context of the ongoing correction, must be said. While we made local lows on Thursday after all, the upside momentum is likely to slow down next – the coming week would bring a consolidation within a very headline sensitive environment. It‘s looking good for the bulls at the moment – till the dynamic of events beyond markets changes.

Precious metals keep being very strong, and it’s the miners upswing that’s more important than gold or silver decline on Friday. Likewise crude oil remains fairly well bid above $90 – just look at oil stocks rising. The cautious weekend trading in cryptos though rightfully shows that price appreciation expectations going into Monday, should be toned down – and then, the attention would once again turn to the Fed as Mar FOMC approaches.

Stay tuned for Monday’s extensive analysis, and have a nice rest of the weekend.

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Monica Kingsley
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All essays, research and information represent analyses and opinions of Monica Kingsley that are based on available and latest data. Despite careful research and best efforts, it may prove wrong and be subject to change with or without notice. Monica Kingsley does not guarantee the accuracy or thoroughness of the data or information reported. Her content serves educational purposes and should not be relied upon as advice or construed as providing recommendations of any kind. Futures, stocks and options are financial instruments not suitable for every investor. Please be advised that you invest at your own risk. Monica Kingsley is not a Registered Securities Advisor. By reading her writings, you agree that she will not be held responsible or liable for any decisions you make. Investing, trading and speculating in financial markets may involve high risk of loss. Monica Kingsley may have a short or long position in any securities, including those mentioned in her writings, and may make additional purchases and/or sales of those securities without notice.

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