Wednesday, 6/18: Stocks Mixed, Bonds Up Slightly, Gold Down

Price chart analysis and commentary

S&P 500:

As Fed Chair Powell says interest rates will stay the same, the index closes down by .03%. We’re still inside last week’s trading range as money managers think about it.

Nasdaq 100:

The unchanged price keeps the index within last week’s trading range. The longer this goes on, the more likely a dramatic move comes out of it.

iShares 20+ Year U. S. Treasury Bond ETF:

No rate cut, no rate increase is the news from Fed Chair Powell, and the bond fund rises by .16%. The move takes it above the declining 50-day moving average.

SPDR Gold Shares:

Down by .52% as the price digests the recent new high. The shares remain above the uptrending 50-day moving average.

United States Oil Fund:

The price closes down by .12% after opening higher. This fund is designed to reflect the movements of West Texas Intermediate Crude.

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