Daily Briefing – July 7, 2020

Published on
July 7th, 2020
Duration
28 minutes


Daily Briefing – July 7, 2020

Daily Briefing ·
Featuring Peter Cooper, Ed Harrison, and Dan Russo

Published on: July 7th, 2020 • Duration: 28 minutes

Managing editor Ed Harrison joins Dan Russo, CMT, chief market strategist at Chaikin Analytics, to discuss the latest developments and trends in markets. With his blend of technical and fundamental analysis, Russo shares where he’s seeing relative strength in equities and explains why understanding the macro picture and the interconnected relationships of various asset classes is important for equity traders. Russo and Harrison also dive into currencies, bonds, and the macro trends, especially as it pertains to inflation. In the intro, Peter Cooper talks about remittance and why it’s a critical piece of puzzle for the global economic recovery.

Comments

Transcript

  • PE
    Paul E.
    8 July 2020 @ 19:11
    Another good job Ed, thanks!
  • CR
    Cory R.
    7 July 2020 @ 22:21
    The only question I care about is: what level in the Dow/S&P does the Fed want to target. Anything below that level is under risked. Anything above that level is over risked.
    • BA
      Bruce A.
      8 July 2020 @ 05:36
      Although that comment sounds a bit loopy at first reading, the recent Grant Williams podcast interview with Mike Green includes a portion where Mike talks about the Fed looking at inflation expectations 'channel' through the financial markets action. Mike goes on to discuss how FED interest rate reductions after market corrections supports a negative correlation between bonds and stocks, which in turn supports use of leveraged risk parity trades (up to a point). https://ttmygh.podbean.com/e/teg_0003/ cheers
    • CR
      Cory R.
      8 July 2020 @ 16:17
      Thank you Bruce for the link to podcast -- it is amazing and I feel a little scared LoL. Mike says his reading of Fed people he's sat down with is that they only know what they are taught, which is anything except how markets work in real time. This is only half the truth, as they don't need to know it all because market mechanics can be outsourced to others equal to or greater than Mike. They have been playing with markets for some decades now and have learned how things work and they know exactly what will happen.. in theory. Mike's points confirm my view that market is too far gone now in price/debt levels and have become now a national security type of concern -- national player of which needs to see ONLY a managed rise or the house of cards falls.
  • EJ
    Eric J.
    8 July 2020 @ 15:53
    Another guy I'd love to see on is Paul Lange from Disciplined Trading Services. His ability to read the market is amazing. I've learned an incredible amount from that guy.
  • JP
    Jason P.
    7 July 2020 @ 23:42
    Excellent guest 99.5% wheat almost no chaffe in the content get this fellow back on in august/sept
    • EH
      Edward H. | Real Vision
      8 July 2020 @ 12:30
      Agree. That’s the plan.
  • DR
    Danilo R.
    8 July 2020 @ 03:15
    Wow, one of the best daily briefings. A great blend of technicals and fundamentals.
    • EH
      Edward H. | Real Vision
      8 July 2020 @ 12:29
      Danilo, I liked that blend from Dan too. I told him we should have him update us if his view changes. But, we are sure to have him on again in the next two months. Thanks for the feedback.
  • EJ
    Eric J.
    8 July 2020 @ 03:41
    Nice job Ed. Let's get Lakshman Achuthan back on. We're looking at a potential topping process in the market and his take on growth and inflation could be very interesting. Especially inflation with the FIG. If we're at an inflection point with inflation, and Dan's take on select commodity charts turning up plays out, the FIG could swing the analysis one way or the other.
    • EH
      Edward H. | Real Vision
      8 July 2020 @ 12:28
      I like that idea. Maybe Lakshman can talk to us right around summer end or school beginning? I think that’s the critical juncture for the economy.
  • JM
    Joseph M.
    8 July 2020 @ 09:14
    Dan was great. Have him on again
  • AB
    Alastair B.
    8 July 2020 @ 08:27
    I like the way you zoom in by 10% on Peter when he says implications of his analysis to focus the viewer’s attention. This is a nice trick.
  • TZ
    Tibor Z.
    7 July 2020 @ 23:32
    Where do you see AUD\USD going? I want to buy Australian golden miners. If AUD strengthens it will lower the profitability of the Australian miners, right?
    • BA
      Bruce A.
      8 July 2020 @ 05:27
      If inflation plays out with commodities rising then AUD should strengthen but only if markets don't collapse. In a risk off event, AUD weakens vs USD. The gold miners are so leveraged to the gold price and the good operators are very very profitable at this time. Also, the Aussie miners are well placed to continue meeting guidance due to very low level of Covid here and the national importance placed on continuing the mining royalties flow to government coffers. Best of luck.
  • JH
    Joseph H.
    8 July 2020 @ 04:48
    Dan was brilliant, more of him please. Great interviewing Ed
  • OT
    Onsi T.
    8 July 2020 @ 03:38
    Good discussion, I like the copper vs gold chart. I thought it was very telling of what's happening macro wise. Can we have more discussions on EM, particularly Chinese markets and its technology sector. Lately it has become a very appealing alternative to S&P. Cheers!
  • AC
    Andrew C.
    8 July 2020 @ 03:23
    Thanks. Great interview. I believe equities do alright under inflationary conditions. Gold does better, and energy does best. So I’m not totally convinced the SP500 heads south over the next few years, even with the FED put....
  • BE
    Benjamin E.
    8 July 2020 @ 02:40
    Very cool interview. Nice charts. Thanks!
  • EL
    Erik L.
    8 July 2020 @ 02:10
    Dan is great. More often pl. -- L
  • OM
    Owen M.
    8 July 2020 @ 02:06
    great RVDB! Thank you for bringing on Russo. Nice job Ed.
  • IN
    I N.
    8 July 2020 @ 01:29
    Great discussion today. Also, Peter is standing too far away from the razor!
  • KW
    Kevin W.
    8 July 2020 @ 01:28
    Please bring Dan or Mark Ritchie on again if the trend begins to change. I like hearing their views and TA, and think it’s important to bring them back if the bull market runs out of steam.
  • JK
    Jim K.
    8 July 2020 @ 01:04
    Dan was a great guest as it is not often that you can find a technician that understands and incorporates fundamentals and cross asset analysis and is able to convey them in a macro context!
  • RR
    Ramon R.
    8 July 2020 @ 00:39
    Great discussion. Would be good to bring Scott Melker to bring a similar technical framework with a focus on equities and crypto
  • DT
    David T.
    8 July 2020 @ 00:28
    A lot of tickers were mentioned. Would been good to see the charts too. Interesting views.
  • JB
    Jamie B.
    7 July 2020 @ 23:52
    Great insights. I'd love to see Dan on weekly given the inflection point we're at in the markets to complement other macro discussions. That would be a powerful combination for RV subscribers. Thanks for another valuable discussion Ed.
  • RD
    REMCO D.
    7 July 2020 @ 23:48
    Copper versus gold to detect growth trends. What a great idea.
  • MC
    Michael C.
    7 July 2020 @ 23:38
    Good discussion. Would have liked to hear what his thoughts/trading action would be if SP500 3000 level doesn't hold. Also his view on gold, bitcoin, and relative attractiveness of some asset classes beyond equities and bonds.
  • SS
    Sheldon S.
    7 July 2020 @ 23:14
    THANKS . . . More please!!
  • CR
    Colin R.
    7 July 2020 @ 23:11
    Interesting, thanks. Could anyone tell what's behind USDTRY for the last 15 days it's like it's pegged... but I haven't seen such news
  • MT
    Mark T.
    7 July 2020 @ 22:29
    Very good discussion today.