Hello MarketClub members everywhere. The University of Michigan released its preliminary index of sentiment for March and it increased to 97.6 from 96.3 in February. Americans are more satisfied than any time in the previous 16 years with the current state of their finances and the economy.
Chart courtesy of Bloomberg
Key levels to watch next week:
S&P 500 (CME:SP500): 2,54.54
Dow (INDEX:DJI): 20,774.76
NASDAQ (NASDAQ:COMP): 5,812.08
Gold (FOREX:XAUUSDO): 1,198.32
Crude Oil (NYMEX:CL.K17.E): 48.78
U.S. Dollar (NYBOT:DX.M17.E): 102.19
Every Success,
Jeremy Lutz
INO.com and MarketClub.com
moderately pessimistict
With the Fed comments being on the dovish side, compared to previous comments and it was assumed that only if the Fed came out with a more hawkish comment, the dollar could move more on the upside. I also believe that the markets have priced in if everything was implemented as to what the WH wanted. It has been said that infrastructure and tax reform would be dealt with after the repeal of Obama Care. I think that the later will be a uphill battle if possible at all, judging by most of the town hall meetings. In any case everything would appear to be farther in the future if possible at all. I would personally be very cautious with the markets, a number of investment managers have stated on television, they like equities, at at this time only offshore equities.
I'm guessing they aren't talking to many people who actually live in Michigan!
Or Minnesota. What planet are they on?