Weekend July 31 2016
the Transports have peaked and rolled over. The Fab Five are screaming tothe upside, GOOGL,FB,PCLN,etc
But be sure to read Of Two Minds who sums this up well.Our take is that the DJIA topped and is now rolling over to a Fall Low.
Interest rates are slowly increasing with bond falling. The FED is Lost on what to do.
Energy - Bullish Percent
I suggested this chart might be of more help in spotting a bottom.Looks like it is finding some support at 55
Our thinking has been that below 40spffered some support, that appears to be at least starting.
Be sure to read Spencer Jakab's column on the majors on page B 10. All the international oils had lower profit
reports on friday.But Exxon invested $5.2 B during the quarter, paid out $3.1 B in dividends,and earned $1.7 B.Something has to give here. XOM Price now dropping.
Gold Stocks Bullish Percent
Maximum optimism exists in gold as well. Gold Stocks have soared from zero to 100%, and gold has advanced $300.
The sell off may wait a while but this is no time to buy.
We still believe a top in the markets is in the making.
Stocks should begin rolling over in earnest soon with lower prices this fall.
It is not time to buy gold or silver.
We will monitor the energy markets for signs of a bottom.
I am having severe keyboard problems, more this week when I get a new keyboard.
We will continue to update on energy. But support appears to be coming in here.
Doug Schoen's column on page A 11 follows Kim Strassel's conclusion on Friday that this is all about HIllary versus Hillary. It is hers to lose.
The Market Perspective bases its information on techniques and sources that have been found to be reliable in the past, and The Market Perspective tries to base opinions on sound judgment and research, however, we do not guarantee that future results will match past performance and no guarantee can be made that advice will be profitable. The Market Perspective accepts no money for stock recommendations and is purely motivated by its own research in recommending any stocks. Put another way, the responsibility for decisions made from information contained in this letter lies solely with the individuals making those decisions. The editor and persons affiliated with The Market Perspective may at times have positions in securities mentioned. Nothing contained herein represents an offer to buy or sell securities. The Market Perspective encourages investors to be diversified, and to maintain sell stops and risk control over their valuable investment capital. No guarantee can be made to the accuracy of text or charts.