Weekly Update – 22 September 2019 – LS Trader

Stocks 

Stocks had a mixed week after failing to take out the prior week’s highs and rally to new all-time highs. The long-term trend for US stocks remains up, and a breakout to new all-time highs is likely in the coming weeks.

The Nikkei and the Dax, currently still in long-term downtrends, are within range of upside breakouts and a change of trend to up.

Commodities

The energy sector saw massive moves this week after gapping sharply higher on Monday on geopolitical events. The long-term trend for energies was and still is down, except for Natural Gas. However, the size of last week’s moves has taken the markets to within range of a change of trend to up.

Palladium was, once again, the strongest of the metals, as it rallied to new all-time highs.

Currencies

The Dollar had a better week as it rallied against most of the majors, keeping the long-term Dollar bull trend intact. The Euro had rallied against the Dollar sufficiently to test resistance, but resistance held, and the market turned lower. 

Interest rate futures

Interest rate futures put in a robust five-day rally this week to correct some of the recent declines. The long-term trend remains up for the sector, and new highs cannot be ruled out. It will take significant further decline for a change of trend to down to come within range, and that prospect looks to be months away at present.

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