Weaker Economy Focus on June 14

Weekend June 8,2019

The WSJ lead editorial this weekend suggests Trump pay attention to the jobs report, there are numerous examples of a weaker economy also highlighted on the WSJ Editorial TV report today. It is time to do something with tariffs and declare victory not endless ware with no outcome.

Transports and Russell not confirming move up in Industrials

e need to see the Transports blue and Russell moving up with the Industrials red, it is not happening

Crude oil

Crude oil is over sold, finding some support here in the low  50s, look for a rally back to the MAs, decline to resume in July.

Gold

Too much too fast, look looks like a pullback to test the break out at  1310.

TLT Bonds

Looks like a parabolic blow off to the upsiide.  The guest on WSJ Editorial report is looking for to FED rate cuts this year. The bond market has delivered that and more already.  Look for a pullback here in price.

Bottom Line

 

Look for a top in stocks June 14.Industrials move up not supported by other indexes. Bonds topping now.  Gold needs a pullback, it is the only commodity making new  highs.