European Markets rallied yesterday, closing on the highs of the day with an average gain of 1.4%. This has led to a 1.25% gain the S&P Futures as finally some of the awful news over the past months gets priced into the market. As Fed Chair Powell has repeatedly reminded U.S. Consumer Spending accounts for roughly 70% of economic output. So, it is important to pay attention to consumers’ mindsets. If individuals and households are worried about the direction of the domestic economy, they will likely be inclined to spend less and hang on to more of their hard-earned pay. The preliminary estimate of the Consumer Sentiment Index published two weeks ago by the University of Michigan (“UofM”) showed U.S. Consumer Sentiment hit an all-time low in June. Unrelentingly high inflation was the most-cited concern among Americans surveyed. The University of Michigan Sentiment Survey fell to 50.2 in June from 58.4 in May. The result missed the 58.1 consensus forecastThis represents a 14.0% decline month over month (“MOM”) and a 41.3% decline year over year (“YOY”). The Consumer Expectations Index, which gauges Americans’ faith in what the future of the economy may look like, fell even further – declining 15.2% MOM and 44% YOY. Americans’ fears were reinforced as the latest Consumer Price Index (“CPI”) data from the Bureau of Labour Statistics showed that inflation is not slowing down like Wall Street hoped, especially after it showed signs of slowing in April. Given the negativity surrounding sentiment, if the S&P can ignore these results and rally from here, the amount of short-covering could see a rally that may surprise to the upside. ECB President Lagarde, said yesterday that the ECB will begin raising Rates next month by 25 Basis Points, helping the Euro to rally.

To mark my 2575th issue of TraderNoble Daiy 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 made 90 points yesterday and is now ahead by 3146 points for June after making 3651 points in May, having made 762 points in April, following a gain of 5883 points in March. The Platinum Service made an impressive 5324 points in February, after ending January with a gain of 3878 points, more than making up for December’s 932 points loss. 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 

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