{"id":49978,"date":"2019-06-28T13:17:19","date_gmt":"2019-06-28T17:17:19","guid":{"rendered":"https:\/\/www.ino.com\/blog\/?p=49978"},"modified":"2019-06-28T15:08:55","modified_gmt":"2019-06-28T19:08:55","slug":"stock-market-erases-may-losses","status":"publish","type":"post","link":"https:\/\/wwwtest.ino.com\/blog\/2019\/06\/stock-market-erases-may-losses\/","title":{"rendered":"Stock Market Erases May Losses"},"content":{"rendered":"<p>Hello traders everywhere. As we enter the last couple of hours of June trading, I thought I'd take a look at the monthly charts and see where we stand. Not shockingly the S&P 500 and DOW both erased their May losses gaining +6.6% and +7.1% respectively while the NASDAQ is just short of erasing it's -7.9% loss with a June gain of +7.3%. These gains are mostly due to two things, the promise of a China trade deal and optimism that the Fed will announce a rate cut of at least 25 basis points in July. <\/p>\n<div align=\"center\" style=\"margin-bottom: 20px;margin-top: 10px;\"><iframe loading=\"lazy\" width=\"560\" height=\"315\" src=\"https:\/\/www.youtube.com\/embed\/fg70YB6cDJs\" frameborder=\"0\" allow=\"accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/div>\n<p>The only laggard of the seven instruments that I track to have a losing month is the U.S. dollar which will post it's most significant monthly loss since December of last year standing at -1.4%. <\/p>\n<p>Gold is having it's best month in quite a while gaining +8% for June as traders flock to the haven hedging their bets that a trade deal will get done. This is the first time since April of 2018 that gold has traded above the $1400 level.<!--more--> <\/p>\n<p>Crude oil jumped back to life gaining +6.6% on the month, which was done this week after the American Petroleum Institute pushed oil prices higher by estimating an inventory draw of as much as 7.55 million barrels for last week, the Energy Information Administration reported a draw of 12.8 million barrels in crude oil inventories, pushing prices further up significantly. This is the most substantial inventory decline in at least a year.<\/p>\n<p>Bitcoin traders were shocked yesterday when the cryptocurrency sold off -14% in one fell swoop dropping the price near the $10,000 level, but it will finish the week in positive territory gaining back +8.7% of it's Thursday losses. It will post a truly incredible +37.6% gain for the month. You have to wonder if it can maintain this pace going forward. <\/p>\n<h2 style=\"color: #003380; font-size: 20px;\">Key Levels To Watch Next Week:<\/h2>\n<ul>\n<li><strong>S&P 500 <a href=\"http:\/\/club.ino.com\/trend\/analysis\/stock\/CME_SP500\/?mktcode=tradersblogsymbols\" target=\"_blank\" rel=\"noopener noreferrer\">(CME:SP500)<\/a><\/strong>: 2,874.68<\/li>\n<li><strong>Dow <a href=\"http:\/\/club.ino.com\/trend\/analysis\/stock\/INDEX_DJI\/?mktcode=tradersblogsymbols\" target=\"_blank\" rel=\"noopener noreferrer\">(INDEX:DJI)<\/a><\/strong>: 25,958.66<\/li>\n<li><strong>NASDAQ <a href=\"http:\/\/club.ino.com\/trend\/analysis\/stock\/NASDAQ_COMP\/?mktcode=tradersblogsymbols\" target=\"_blank\" rel=\"noopener noreferrer\">(NASDAQ:COMP)<\/a><\/strong>: 8,176.08<\/li>\n<li><strong>U.S. Dollar <a href=\"http:\/\/club.ino.com\/trend\/analysis\/stock\/ICE_DX\/?mktcode=tradersblogsymbols\" target=\"_blank\" rel=\"noopener noreferrer\">(ICE:DX)<\/a><\/strong>: 97.67<\/li>\n<li><strong>Gold <a href=\"http:\/\/club.ino.com\/trend\/analysis\/stock\/NYMEX_GC.Q19\/?mktcode=tradersblogsymbols\" target=\"_blank\" rel=\"noopener noreferrer\">(NYMEX:GC.Q19)<\/a><\/strong>: 1,408.40<\/li>\n<li><strong>Crude Oil <a href=\"http:\/\/club.ino.com\/trend\/analysis\/stock\/NYMEX_CL.N19\/?mktcode=tradersblogsymbols\" target=\"_blank\" rel=\"noopener noreferrer\">(NYMEX:CL.N19)<\/a><\/strong>: 53.90<\/li>\n<li><strong>Bitcoin <a href=\"http:\/\/club.ino.com\/trend\/analysis\/stock\/BITCOIN_BITSTAMPUSD\/?mktcode=tradersblogsymbols\" target=\"_blank\" rel=\"noopener noreferrer\">(BITCOIN:BITSTAMPUSD)<\/a><\/strong>: 7,511.41<\/li>\n<\/ul>\n<p>Every Success,<br \/>\nJeremy Lutz<br \/>\n<a href=\"http:\/\/www.ino.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">INO.com <\/a>and <a href=\"http:\/\/club.ino.com\/members\/?mktcode=blogjl\" target=\"_blank\" rel=\"noopener noreferrer\">MarketClub.com <\/a><\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Hello traders everywhere. As we enter the last couple of hours of June trading, I thought I'd take a look at the monthly charts and see where we stand. Not shockingly the S&#038;P 500 and DOW both erased their May losses gaining +6.6% and +7.1% respectively while the NASDAQ is just short of erasing it's [&hellip;]<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":41,"featured_media":49981,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[6249,6320,6319],"class_list":["post-49978","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trading-videos","tag-dow-indexdji","tag-nasdaq-nasdaqcomp","tag-sp-500-cmesp500"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v23.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Stock Market Erases May Losses - INO.com Trader&#039;s Blog<\/title>\n<meta name=\"description\" content=\"The S&amp;P 500 and DOW erased their May losses gaining +6.6% and +7.1% respectively while the NASDAQ is just short with a June gain of +7.3%.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ino.com\/blog\/2019\/06\/stock-market-erases-may-losses\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Stock Market Erases May Losses - 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