by Chris Vermeulen of The Technical Traders
Chris joins Jim Goddard on Howestreet.com to discuss the latest moves in the markets. We are seeing a little bit of fear creeping into the market this week, which is a normal process that takes place roughly every 20 days. Money trickles in, then needs to be shaken up a bit to allow the market to reach for new potential highs.
We’ve also noticed some minor pullbacks and money has been going into defensive plays. Gold and Silver have had a roller coaster ride for the past few months but Gold has rallied his place back. Crude oil has been trading sideways but shows quite a bit of upside potential if the market can start a new rally to the upside. Though the market remains in an uptrend, there are fewer stocks supporting it as many sectors are not performing well.