By Chris Becker
A week is a long time away from the markets and as planned, volatility returned as I went offline! Basically markets lost their collective will and caved in to a possible Trump Presidency this week, sending the US dollar to a new low with last week’s NFP providing further ammunition to the cautious ranks. With a rate hike around the corner as well, this is not want risk needs, but it maybe what it gets. Almost all stock markets crossed the Rubicon in terms of breaking terminal support as a bear market before the actual Fed rate hike is brewing.
As usual for Monday mornings, I’ll step back and take a longer look at markets using weekly and daily charts as the guide.