4-11-24 Will Markets Break the Trendline? | Before the Bell

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Last year’s market rally amid the AI chase and hopefulness for Fed rate cuts tracked right along a narrow channel around the 20-DMA. Then came Summer, and a market correction that hit in October. Markets formed a rounded top during that action, which is what we’re beginning to see currently. Markets have operated similarly in a defined range along the 20-DMA and are now developing another rounded-top as the market starts to lose momentum. Theoretically, markets could take out last Thursday’s low today…a process that is beginning to confirm a break in the trendline that goes all the way back to last year.

Hosted by RIA Chief Investment Strategist, Lance Roberts, CIO
Produced by Brent Clanton, Executive Producer
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4 COMMENTS

  3. Lance, you might want to mention stock buyback blackout window right now. Based on what you've said elsewhere that is a huge headwind for markets now and for the next couple weeks. Maybe not a coincidence this is coinciding with slowing momentum.

  4. Lance your ignorance of geo politics is astounding. You claim that gold is caught up in the everything bubble completely ignores the insatiable gold demand coming from Asia particularly Russia and China which are keen to maintain the dedollarisation process. As chair of BRICS this year there are numerous reports Russia will push the issue of a gold backed trading currency.
    You also ignore the fact that the geo political situation is infinitely more dangerous today than at any period since the Cuban Missile Crisis. The bulletin of atomic scientists put its 'armaggedon' clock at 30 seconds to midnight a place it hasn't been since 1962. Tensions between Russia and China and the US are at their worst for many decades. The price of gold reflects these many realities.
    You also ignore the fact that the price of gold was heavily suppressed in the years after the GFC see the many fines imposed on several mega banks including JP Morgan for their manipularion/suppression of gold prices.
    Now in China we have a gold price fix in shanghai as an alternative to the corrupt London and new York bullion banks.

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