Summer's over but is the market, that's the burning question on every investors mind as they return from the long Labor Day weekend. I expect that the volatility that we have seen in the last few weeks will begin to abate and settle down. That would be the normal course of action for this type of market. One of the first questions traders are going to ask themselves is this, is the Federal Reserve going to hike interest rates and if they are by how much? Another item of interest to traders will be China, which in my opinion is not over with yet. The last wild card in this bunch has to be the political scene that should be getting into high gear now that Labor Day has passed. The wildcard in the bunch, of course, is Donald Trump, who has defied every political pundits imagination and predictions. Whether you love him or hate him, Donald Trump is channeling the frustration level of the public with career politicians in general. If that were not enough we have Joe Biden is who is contemplating a run for the presidency of these United States. The political cycle this year should be both entertaining and dramatic much more so than previous years. I mentioned before the Labor Day break to be disciplined and do not try to pick a bottom in this market. This is not the time to be bold but rather to be conservative and let the markets tell you what they want to do. Looking at the different market sectors I see very few bright spots. I just checked with the Smart Scan technology and yes there are ten stocks that are trending to the upside and they are traded on the ASX. If you have a strong reason for trading Australian stocks, you may want to check them out. As I write this, most of the premarket indices are up about 1 1/2%, and I expect that this particular rally is going to run into roadblocks not too far from here. In today's video, I will be looking at the major roadblocks I see for the major indices along with gold, crude oil, and the euro. I cannot emphasize strongly enough just to use caution and be conservative in anything that you do in any of the markets right now. I expect that in the weeks and months to come there will be some wonderful opportunities to make money. The key is to keep your powder dry be patient and be mentally ready to take advantage of those opportunities.
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