US Stocks Fail Retest This Week
To be clear, it's perfectly normal to expect that former support will turn into resistance. That's Supply & Demand 101 and the higher probability outcome, even if only temporary.
And that's my point here. What if the S&P500 is able to get back, and hold, above those former relative lows from 2018 & 2019? What then?
But look at how well Gold and Bonds have held up during the rise in stock prices:
The question we're asking here is simple: Does the resilience in Gold and Treasury Bonds mean that they are still the assets we should favor?
Or does the S&P500 finally get back above those former relative lows, and bonds and gold roll over?
Or do they all work their way higher together?
We'll do our best to answer these questions, as well as many other developments we're seeing around the world, on Monday night's (Premium) Conference Call. You can register for that here, if you haven't already.
Let me know what you think:
Stocks?
Bonds?
Or Gold?
Which do you prefer to own this summer?
JC