The View from 5th Avenue

The View at Two – 28 May 2020

One Moment in Time…We are saying hello to 12-week highs as the S&P fast approaches 3100 and it feels as if the past 3 months of stock destruction will be in the rearview mirror stat. Looking at the chart below, it would seem the S&P is back on the straight and narrow path to the moon (thank you, Fed’ers). One thing to keep an eye on is the leaderboard today, though. Healthcare, Telecom, Chemicals and Utes at the top half of the screen, XAU up again and volumes pretty eh, don’t exactly scream confidence, but there are definitely other signs of life (see below)...

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