Peter Hanks - Broad Market Commentary – Fri 20 Mar, 2020

After extreme levels in volatility and central bank policies are we finally seeing some calm enter the markets?

Peter Hanks, Analyst at DailyFX kicks off today by looking at the US markets and some related factors that are showing fear has dissipated to a small degree.

14 central banks have cut rates and the major central banks are aggressively buying assets which is helping but even the news of California going into lock down is not forcing a sell in US stocks. Maybe the worst is behind us – Maybe not though…

Click here to visit the DailyFX website and follow along with what Peter is writing.


Comments:
  1. On March 20, 2020 at 10:17 am,
    Glenfidish says:

    Thanks al and Cory for the commentary! Mark was a good listen.

    The market is forward looking. Like I have said earlier this week, if a bottom was not hit and we are going lower then have dry powder and buy when you feel comfortable buying. Money needs to go back in at some point. Sidelines can’t be forever it’s just Mother Nature.

    When it comes to miners I personally like to watch the gold/dow ratio, extreme oversold conditions, the sound of Armageddon, Matthews forks and charts, and input from many in here. ultimately if all the surrounding noise points to the main outcome which is we are still in a bull market in gold, then I prefer personally to watch the miners I own and buy when i know there trading patterns lime no one else. That’s just me. I know some of you know what i mean. You will never 100% no a stock but, if you have owned them long enough you know the patterns and that is golden for me.

    Anytime your favourite stock gets to that all time low or close to that low pattern, for me it’s a buy and a once in awhile buy.

    Cheers

    Hope everyone is doing well.

    • On March 20, 2020 at 12:59 pm,
      OOTB Jerry says:

      It might take a dead cat bounce……for a couple of weeks(maybe)
      But, historically………this is not looking good according to the GANN REPORT
      Zerohedge , has a copy cat article, showing the charts….

  2. On March 20, 2020 at 12:56 pm,
    OOTB Jerry says:

    DOWN SHE GOES………..DOW DOW another 800pt……4 min before the close….
    Sheepl are not going to be happy over the weekend……………..

  3. On March 20, 2020 at 1:35 pm,
    b says:

    I wonder if the dow gold ratio goes to 1.

  4. On March 20, 2020 at 2:41 pm,
    RICHARD/DOC says:

    April will not be a pleasing month for the precious metals and the stocks. A lot of people are saying about how the conventional markets will take off when there’s an all clear on the coronavirus. I would be careful with that type of narrative. One has to consider the psychology after the conventional market bottoms this time. The consumer will be shell shocked and we no longer live in a normal economy. The vacation industry should be toast for a long time. Multiple companies will have debt that hangs around their necks for years and the government will have debt even larger with a debt/gdp ratio that will be in the stratosphere. We know how debt has dampened growth in the past and it’ll probably be more difficult to grow in the future. Folks should probably watch to see how the Chinese stock ETFs respond when they start to come out of their dilemma. In fact, they say that factories and businesses are starting to open now with close to 70% of them. However, the etf I’m watching has not turned around yet at all in anticipation. Folks on this site will be truely amazed at some of the prices of the PM stocks we’ve talked about in the past—I believe we’ll see that by the end of April which will present amazing opportunities to those who maintained cash during the hubris over the economy and the markets.

    • On March 20, 2020 at 4:27 pm,
      Dick Tracy says:

      Doc,The stock market has not stopped going over the edge. There is no leadership at this point. The President doesn’t have any answers other than to print money and lower interest rates. Trump has a lot of deficiencies when it comes to dealing with other politicians and in dealing with political issues. In public emergencies of this sort The President should know what to do and how to do it. Something must be done immediately to restore public confidence and prevent the damage from spreading too far. So what is the plan, to restore prosperity. Simply put, there isn’t one. None of the politicians from The Republican or Democratic party were prepared for anything other than liquidation of the system although they thought they were. Somebody needs to come forth with a plan that will restore the economy, the virus is important but without an economy you will have no hope. DT

      • On March 20, 2020 at 4:37 pm,
        OOTB Jerry says:

        DT………you are correct, IMO, …..the 37 crash instead of the 29 crash….needs to be looked at……Gann Report,says, we have some real concerns…..coming up…..
        I say,,,April 1 , when the boomers find out they are down 30-50%…….is a whole new ball game.

        • On March 20, 2020 at 4:39 pm,
          OOTB Jerry says:

          BTW………I think Doc is correct on the vacation world………

        • On March 20, 2020 at 4:51 pm,
          Dick Tracy says:

          Jerry, they were still learning how to chew bubble gum when they finally got to 1937. It will take a while. DT

          • On March 20, 2020 at 6:58 pm,
            RICHARD/DOC says:

            Dick, there could be a plan but I don’t believe anything will work satisfactorily this time. All they’ll know is how to spend both fiscally and monetarily. They’ll have to make a decision on what companies they need to save and it may mean nationalization through government purchase of stocks. I bet they fold on Boeing and eventually bail them out but they should wait until the stock is close to 0. What we’re seeing is an unfolding of a massive credit bubble and there is no stopping it this time. For the conventional market to do a V would mean a lot of zombie companies will continue to exist but this time I think the market place will rule regardless of any manipulative maneuvers.

  5. On March 20, 2020 at 8:36 pm,
    buzz says:

    So what you all are saying is that Trump might as well stand in Jerusalem & proclaim himself as God? Over some stupid virus? Hunker down fools. Think foxholes & Vietnam. Okay, we got a body count…
    Walter Croncite is not counted as amongst the living.