Note from Tim: below is Slim’s weekly video. He tells me he’s going on vacation, so it’ll be a couple of weeks before we see another. I’m working on six posts for this long weekend, so you’ll see those starting Saturday morning.
The following Year-to-Date and 2-Week graphs show which commodities (and commodity ETFs) have gained and lost the most (in terms of percentage) during those two time periods.
The second graph illustrates the massive 18.92% gains made in Gasoline during these past two weeks…no doubt, in anticipation of, and with respect to, current events surrounding the refinery shut-downs in Texas this week, due to the effects of Hurricane Harvey.
On a Year-to-Date basis, the laggards are WTIC Crude Oil, Brent Crude Oil, and the Agriculture ETF, while Copper leads in gains, followed by other metals.
The monthly jobs report came out, and although it was a little soft, equity reaction was initially fairly positive. It’s tough to say where these things wind up at the end of the day, because ultimate daily direction often has little correspondence to the initial knee-jerk. As I am typing this, the ES is up 6, having pushed cleanly above its broken trendline yesterday, circled in red (so much for THAT reversal………)