Thursday Outlook: Commodities, Global Markets Largely Intact

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The above is a random sampling of charts from important markets that look much the same as many equity linked indexes.

CSCO and many stocks were higher in after hours trading. Perhaps that will lead to some follow-through rally today. But then, like yesterday, where markets couldn’t sustain any upside momentum, we could see a repeat performance. The bottom line is that markets don’t move in a straight line no matter the trend. It seems what we’re seeing is a similar grinding lower a la 2000-2003 with many powerful rallies in between.

Managing risk in this environment is critical; one day you’ll look like a genius and the next an idiot.

Have a pleasant day.

Disclaimer: Among other issues the ETF Digest maintains long or short positions in SH, PSQ, RWM, IEF, DBC, GLD, DBA, EFA, EWJ, EFZ and EWV.