My last Monthly Macro Review/Preview suggested the consolidation for Gold and Copper would continue with both biased lower on a break, while the trend continued lower for Crude Oil and Natural Gas continued higher. The U.S. dollar and Treasuries continued to be biased higher, but with a stronger bias to the dollar and Treasuries showing signs of weakness. The Shanghai Composite and Emerging Markets looked to continue to move lower, with Emerging Markets possibly reversing while the German DAX looked strong while at long term resistance. Volatility could go either way, but looked to remain low and near historic lows. With that tailwind, the Equity Index ETF’s SPY, IWM and QQQ were set up to continue higher in the coming months. How does an additional month impact the longer term picture?
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.
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Macro Month In Review/Preview April Into May 2013
Published 04/30/2013, 02:16 AM
Updated 05/14/2017, 06:45 AM
Macro Month In Review/Preview April Into May 2013
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