DYED in the wool chartists may still be hanging onto the longer term downtrend in the S&P 500 and claiming that the 65 per cent recovery since March is just a bear market rally – or even a dead cat bounce. But reasons to be bearish on the US stock market are rapidly vanishing as the S&P 500 pushes out to fresh 12-month highs. Is the next bull market truly underway? IG Index offers a spread of 1,097.28-1,097.98.
After plunging by nearly 60 per cent earlier this year, natural gas prices recovered throughout September. But there are signs that levels could once again be heading back downwards. A glut of new resources, including new gas fields, combined with improved extraction has been driving prices lower. Spreadex has a December-based spread of $4.525-$4.575 per million Btu.
Gold’s rally has shown no signs of abating. A weak dollar has attracted investors to the precious metal and some analysts think it could reach $1,300 an ounce. ShortsandLongs.com has a daily December quote of $1,115.5-$1,116.0 per ounce.