After another excellent month for most assets, investors gradually return from vacation to find a market very similar to the one they left, just a little more expensive. With little prospect of altering the fundamentals that have been at the foundation of the dizzying rise of the stock market, it is not to be expected that the Bulls will have great reason to worry, at least until the US presidential elections, and even then the story will not anticipates relevant pessimism, given that December is usually the best month for Wall Street.
In the raw materials, Gold maintains its brightness, despite the consolidation in August, having a free path, at the technical level, to appreciate up to $2,450 per ounce, an area where the price meets the upper line of a long upward channel. deadline. As for Forex, the US Dollar ends the month weaker than the Euro, in relation to July, but not as negative as in the previous month, and is now in a consolidation zone after the breaking of an important trend line that opens space for a rise to $1.25.
Unless some disruptive event appears, outside the current risk landscape, a gradual increase in volatility is to be expected over the next two months, but it should not slide the indices into a corrective move, in addition to a marginal drop, since the Bulls have all the conditions to push for the brilliance of the stock market, winning yet another gold medal in this unexpected year.
