U.S Indices finished the week on the lows of the Day, as a resurgence in new Coronavirus infections halted the re-opening of the American Economy. The Dow closed 2.8% lower at 25,015, which was the lowest close for the month. Both Texas and Florida announced the closing of bars while after a 7.8% report in new cases in Florida on Saturday, Miami announced the closure of its beeches over the coming 4th July Holiday Weekend. The markets reacted negatively, as fears mounted that States would have to impose more restrictions once again to stop the spread of the Virus, thus hampering the economic rebound. Since the June peak on June 8th, the S&P is down 7% while the Banking Index is down a whopping 20%, with Goldman Sachs the biggest Dow loser on Friday at -8.6%.  To make matters worse, the S&P closed below its 200-Day Moving Average. This brings the 50-Day MA into focus at 2968. Volume was heavier than normal due to the re-balancing of the Russell Indexes. European Indices closed higher, helped by a stronger than expected French Consumer Confidence. Meanwhile, Spain’s Government said it would continue supporting businesses by extending its salary support for workers through September. ECB President Christine Lagarde said the Euro-Zone economy has ‘’probably’’ passed its low point unless it experiences a second wave of CODID-19. Elsewhere, Treasuries rose, Gold was flat while Crude Oil closed 1.25% lower.

To mark my 2100th issue of TraderNoble Daily Commentary I am offering a special 2 year rate of Euro 2750 for my Platinum Service which includes 1 to 4 updated emails throughout the trading day To demonstrate this value, a monthly subscription over the same period would cost 4440 euro in total This offer represents a 38% discount and is open to both new and existing members. If anyone is interested in this offer can you please email me on bryan@tradernoble.com for details

For anyone following my Platinum Service it lost 590 points on Friday and is now ahead by 2220 points for June, having made 2456 points in May, 4773 points in April, an incredible 9264 points in March, 2223 points in February, 2142 points in January and 818 points in December. Since I started this New Platinum Service in June 2015 it has averaged a monthly gain of over 1600 points

I have a YouTube Channel which contains recent interviews I have given This can be viewed by clicking HERE Please subscribe to this for new interview notification

This content is for Free Members or higher.

Already Have an Account? Log In

New to TraderNoble? Register