U.S. Equity Markets rebounded from Monday’s sell-off, finishing the day higher, led by the Dow which ended yesterday’s session with a gain of 1.62%, as yet again the McClellan Oscillator proved what a valuable technical signal it is. Markets bounced back strongly, as investors “bought the dip” after the S&P tested its 50 -Day Moving Average. There was not any standout catalyst, with much of the rally attributed to oversold conditions from the steep sell-off. In terms of economic data, Housing Starts accelerated and Building Permits slowed down to a several-month low. However, building permits remained near record highs. This data shows that the housing market continues to chug along at a solid pace. Meanwhile, the infrastructure deal between Democrats and Republicans remains rocky, as both parties continue to disagree over the allocation of funds. Senate Republicans said they are unwilling to throw support behind the bipartisan infrastructure bill if it is brought to the floor for a vote before it’s been drafted. European Markets closed mixed. The European Central Bank’s lending survey for June showed institutions borrowed more in the second quarter to invest back into their businesses. The Bank of England’s Monetary Policy Committee member Catherine Mann noted the country’s economic rebound is still fragile, adding that it is too soon to end support for the economy. Meanwhile, the German producer price index’s (“PPI”) June data was better than anticipated, but declined compared to May as a result of a slowdown in the rate gain in basic foods. In Asia, The People’s Bank of China maintained its one- and five-year Loan Prime Rates, signalling the central bank is confident in the level of liquidity in the financial system. China’s government also rejected U.S. and EU claims that state-sponsored hackers were behind the large attack on Microsoft’s (MSFT) e-mail server earlier this year. Meanwhile, Japan’s core consumer price index (“CPI”) for June showed numbers were in line with estimates, suggesting the Bank of Japan’s current policy will remain. The Reserve Bank of Australia’s Minutes from the June policy meeting said the central bank may boost monetary support once more, depending on the economic outlook. Elsewhere, Oil rebounded 1.69% from yesterday’s OPEC-driven decline, while Bitcoin declined 3% after Treasury Secretary Janet Yellen continued to criticise cryptocurrencies.

To mark my 2350th 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 made flat yesterday and is still ahead by 1288 points for July after making 1366 points in June, 1439 points in May, 1244 points in April, having ended March with an impressive gain of 3769 points, 3286 points in February, 2077 points in January, 2273 points in December, 2025 points in November, 2779 points in October, 3042 points in September and 2383 points in August. Since I started this New Platinum Service in June 2015 it has averaged a monthly gain of over 1600 points

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