Stock Market Today
Latest update: 22-09-2020 18:00
I constantly follow all the stock market news. I only post the stock market news that really sets stock markets in motion.
Cautious recovery. After yesterday's declines, most stock markets have started to recover.
What is striking is that at the time of this writing, European stock markets are doing better than the American stock exchanges. Quite strange, because yesterday's drop was mainly due to the number of increasing corona cases in Europe.
Then you would think that American stock markets are less affected by this. What is at play in the US is the situation with tech stocks. They seemed to complete a head / shoulders pattern. With the risk of a continued decline.
Today some recovery in those tech stocks so that worse is prevented. It's all starting to get a little shaky.
In recent years I have seen these kinds of situations more often. Then suddenly positive messages from a “reliable source” surfaced and everything flew up again. It is impossible to estimate whether it will happen this time. But it is necessary.
The gold and silver price
After yesterday's declines, another recovery attempt today. The lower euro / higher dollar still plays a negative role. The euro is falling due to increased corona cases in Europe. I expect this to be a temporary shock effect.
Due to the high US government debt in combination with large financial contribution programs from the FED, the dollar will continue to decline over the longer term.
With the stock markets still open for mining stocks, there is a mixed picture of rising and falling. They are buying opportunities because it will not be long before gold and silver start to rise.
A nice recovery day. The AEX managed to close the day just above the support at 540. That is a profit because now there are again 2 support points (530 and 540) under the AEX.
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