Kill Bill and More Good News

We are seeing a “risk on” mood flood over the markets currently.  Which is giving some interesting chart developments.

Hong Kong leader Carrie Lim will be withdrawing the extradition bill, Hong Kong equity markets bounced over 4% on the news.

China has said they will meet in Washington in early October to discuss trade issues, giving some hope.

Boris is struggling as PM, but the market likes the idea of a postponement of deadline and taking no deal off the table.  Seems new election is likely.

Oil prices bounced on news that Russia will comply with OPEC output agreement and U.S. added new sanctions to pressure Iran.

The Fed Beige book (running commentary on the economic situation in the U.S.) came out more optimistic on growth than expected.

Many of the higher risk markets we follow are putting in strong performances:

Emerging market FX

Commodities:

Silver

Platinum

Iron Ore

These all are positive signs for investors that perhaps the trade war negativity is priced in, and there is room for positive surprises going forward.

The Riksbanken in Sweden was more hawkish than the market expected and raised the forward looking guidance for possible rate hikes

The Norges Bank will meet later this month and the market is pretty split on whether there will be a hike on the 19th of September.

Maybe the Scandis Central banks know something the rest of the world doesn’t? (Weak currencies have an effect on small open economies)

Keep your eye on the following!!

S&P 500: we have been highlighting the two trading ranges. Market has broken the first key level to the upside.

Silver is on Fire!!!

EURNOK is in trading range we have outlined between 9.90 and 10.05 still.  Trade the range until in breaks out.

VIX index sliding lower, but still elevated in relation to most of 2019 trading.

Copper bouncing off the 250 level, looking to test trendline at 268 level.

Contact us if you are interested in receiving real time trading signals. In doubt? Check out our track record below!

TickerDate OpenedEntry PriceStopTarget PriceCurrent Price% Change

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– Mark W

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