Surprisingly Volatile Intermarket Reactions to End the Week
Fri, Apr 7, 3:21 PM ET, by Corey Rosenbloom
This morning’s lower-than-expected Jobs Report didn’t shake up the equity market, but we’re seeing big reactions Friday in three key markets (and a surprise in one).
Let’s chart our intermarket grid and prepare ourselves for additional study over the weekend:
I’ll be briefing members fully this weekend but wanted to share a quick insight about money flow to end the week.
Put all these charts above in context of a FLAT or SIDEWAYS move today in stocks.
Gold surged higher along with US Treasuries – a defensive market – which is logical given the bearish Jobs Report.
However, we saw severe COLLAPSES in these markets mid-day with price erasing the gains and then some.
On the other hand, Crude Oil continued its uptrend creep higher above $52.00 per barrel.
The other surprise is the US Dollar Index which gapped up this morning and then surged higher this afternoon.
Watch these markets carefully into next week.
Follow along with members of the Afraid to Trade Premium Membership for real-time updates and additional trade planning.
Corey Rosenbloom, CMT
Afraid to Trade.com
Follow Corey on Twitter: http://twitter.com/afraidtotrade
Corey's book The Complete Trading Course (Wiley Finance) is now available along with the newly released Profiting from the Life Cycle of a Stock Trend presentation (also from Wiley).”
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