Joel Elconin – Worst Month for US Markets Since 2022, the Growing Impact of Uncertainty, and the Flight to Gold
Joel Elconin, co-host of PreMarket Prep, joins us to break down the key drivers behind the significant market weakness and why he sees the combination of deteriorating technicals, poor corporate guidance, and political volatility as a dangerous setup heading into Q2.
Tariffs, inconsistent messaging from the US, and a sharp drop in consumer confidence are adding pressure. International sentiment toward the US is shifting, and even travel stocks are showing strain.
Joel warns that “buy the dip” may no longer work in this environment. He suggests holding more cash, focusing on capital preservation. With Q1 ending, he expects institutions to de-risk rather than dress up portfolios.
Click here to visit Joel’s PreMarket Prep website.
Click here to visit the Stock Trader Network.
The Nasdaq vs GLD is weekly oversold and at a price pivot support but will it bounce?
https://stockcharts.com/h-sc/ui?s=%24COMPQ%3AGLD&p=W&yr=7&mn=11&dy=0&id=p76782233374&a=1099812535
CAT hasn’t looked so bad vs GDX since 2020.
https://stockcharts.com/h-sc/ui?s=CAT%3AGDX&p=W&yr=5&mn=0&dy=0&id=p95599600592&a=1278734341
It will be bad news for stock bulls if (when) DIA closes below the fork support that is currently 3.5% below the current level (416):
https://stockcharts.com/h-sc/ui?s=DIA&p=D&yr=2&mn=2&dy=0&id=p86067529793&a=1278738361
This podcast seems to have changed a lot over the years. I remember how balanced Al Korelin was when he was hosting the broadcast but this podcast totally focused on tariffs and Trump and not about mining. I mean, how many times can you say “I mean” in a 14 minute broadcast. Just state your political rant and move on like Big Al used to do. Hopefully Kereport.com will move back to the niche Big Al created and avoid becoming another main stream media outlet.
SOXX:$XAU is now weekly oversold for the first time in 9 years based on the RSI(14).
https://stockcharts.com/h-sc/ui?s=SOXX%3A%24XAU&p=W&yr=7&mn=0&dy=0&id=p70401652000&a=1340342899