70-Second Market Outlook: Metals, Dollar, Bonds, Stocks, Energy
Dollar and bonds are likely to correct while natural gas continues to do the opposite of the broad market.
S&P 500 Futures – Daily Chart
As much as everyone hates to buy stocks up at these lofty prices, I hate to say it but I think they are going to keep going up, and they could do this for a long time yet. If the dollar index continues to break down then I expect the S&P 500 (INDEXSP:.INX) to rally another 3% from here (1500) in the next one to two weeks.
Crude Oil Futures – 4-Hour Chart
Crude oil has not had much attention from me in the past few months. While it has had big price action, many of those big days took place on news, which caused an instant price movement and made this extra dangerous to trade. I continue to watch rather than get attached to it.
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