The U.K. Stockmarket
- U.K. Stocks followed the U.S. market higher following their mid-term election results but a sell-off on Friday left The U.K. Stockmarket almost unchanged this week.
- Oil and mining stocks were struggling at the end of the week with the decline in the price of the commodities.
- On the Brexit front the DUP said alarm bells were ringing over Prime Minister May’s plans to keep Northern Ireland inside the customs union even without a deal.
- Our Breadth Indicator stayed negative this week and our Momentum indicator ticked lower again.
The U.S. Stock market
- The U.S. Stockmarket rallied following an anticipated outcome to the mid-term elections.
- The Fed kept interest rates unchanged this week but investors interpreted a statement as meaning – expect a rate rise in December and three more next year.
- Oil is now in a bear market. By the end of this week crude oil prices had fallen 20% from the recent peak. Some investors are interpreting this as a sign that not all is well with the global economy.
- Our Breadth indicator stayed negative and our Momentum indicator ticked lower again.
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