MasterChartsTrading.Com Video Stock Market Recap August 10, 2018

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•Selling of stocks near the all-time highs, likely implies a period of consolidation

•Augusts and Septembers are traditionally weak for stocks and strong for bonds

•Utilities may be in the process of breaking out

•Telecom attempting to come to life

•Overall stocks seem poised for about a 5% pullback

•Price action for TLT and BUND show a possible investor rotation towards defensive assets

•Dollar moves higher as: Euro, Pound, Australian Dollar, New Zealand Dollar, Swedish Krona, Norwegian Krone, Rand, Turkish Lira, Ruble and other currencies make new lows for the move vs. the US Dollar

•Strong Dollar pressures precious metals

•Gold miners (GDX) make a 2 year low. Gold approaches 2 year lows.

Following a bounce, more downside likely for gold

•Strong support for oil around $64

•Natural gas at resistance. Waiting for strong selling to jump on trend

•Cryptocurrencies are still being sold aggressively (Bitcoin, Litecoin, Etherium, EOS)

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