Jim welcomes back Jonathan Krinsky CMT, Chief Market Technician at MKM Partners. While Jonathan believes the trends remain bullish, he sees the market set up for a pause or consolidation at these levels. He specifically discusses the “STUB” play (Staples, Telecom, Utilities, and Bonds) which has worked well this year, but is getting stretched and is due for a pull back. Jonathan calls the Financial sector the “elephant in the room”. If the major averages are going to push above the current trading range, then the Financial sector needs to move above its 200 days moving average. Jonathan notes that gold is also in a bullish trend, but its rapid rise makes it due for a short-term pause as well. Also I this segment, Ryan has this week’s Market Wrap-up, and Jim welcomes John Ing of Maison Placements Canada Inc. to discuss the precious metals markets.
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