December 16, 2021, 10:38 pm EST
Gold, Silver, and Food
What are the commons between gold, silver, and food? The answer is green or green colors in stock performance today. The other side is the red color in technology stocks.
- Gold, Silver: NEM, KL, AEM, GOLD, FNV, PAAS, KGC
- Food: CAG, K, KHC, SJM, MKC, GIS, HRL
- Technology: SKWS, XLNX, NVDA, AMD, ADBE, TSLA
When defensive stocks outperform offensive stocks, you probably know what are investors or traders thinking. Their minds appear on the scorecard of the stock markets. Although there was a noise yesterday that made bulls happy for a few hours after Fed chairman Jerome Powell’s talk, today could be the real action.
We need to see what will happen tomorrow to see the completed picture. But, it looks bearish based on the observation points mentioned above.
All major indexes, S&P 500, Nasdaq, and Dow Jones are still a record high area so the bias is still bullish. However, today’s performance serves as a cautious note to market participants that it is time to be cautious to prepare for the potential change of direction.