US Stocks And Raw Commodities At Risk In Here
$SPY, $DIA, $QQQ, $USO
Savvy financial experts hold that the risk posed to US stocks are 3: Greece’s debt crisis, China’s Bull market correction, and a US Fed interest rate increase this year.
Some of us see the S&P 500 index falling 38 to 55% (1287 to 934) by March 2016 from Friday’s close at 2076.62.
Greece is struggling to meet the Eurozone’s deadline to reach an accord on a debt restructuring package, it will not happen unless the government is shuffled and its stance changed 180 degrees.
China, the Shanghai Stock Exchange Composite Index has fallen 30% since 12 June and has more to go.
United States economists expect the Fed to raise rates in September or December, which will roil the markets no end.
And more than US stocks are at risk, Crude Oil and many raw commodities will be on the doom list.
For Crude Oil the issue is the supply glut against the use damage. There is more Crude Oil coming from Iraq, Libya, and from Iran if it reaches a nuclear agreement with the 5P+1 UN powers, that does appear likely. And the Saudi’s will not pare its production.
My work shows Crude Oil moving South to 1998 marks of about 20 bbl before we see 60 again.
Have a terrific week.
Paul Ebeling
HeffX-LTN
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