Exciting news! Stocks bounced back last week and closed up across the board, with the S&P 500, Nasdaq, and the Dow Jones Industrial Average all posting gains. But will they clear technical resistance and allow the bulls to take charge? My inflation-trade/war-trade thesis continues to be a success, with the defense (ITA) and steel (SLX) sectors both rallying to new multi-year highs. The US dollar rally also took a pause, giving global equity markets some breathing room. Lastly, the housing market is showing signs of cooling off, but it’s far from being in crash mode right now. However, with the recent uptick in interest rates, I’m curious to see whether homebuyers will be hesitant to engage in activity as prime real estate season approaches. So get ready for another exciting week of trading and investing, and stay tuned for more updates from me! Download this week’s members only edition of the Benzinga Insider Report – HERE |
Wishing you good fortune in the week ahead |