The week was mostly about holiday and rest. Not much to do tradingwise. The FRO report was mixed and the stock turned down once again and enters a Monthly Bearmarket. The company fleet is to 98% eco vessels. They have a good liquidity but a challenging geopolitical situation with less demand from China, oil sanctions and less demand for oil. Also the tanker market is expected to be oversupplied by 2025.
Gold and Silver consolidating modest gains right now. The miners are not doing much either. Resource stocks are also in a bear market. The need for resources is here but investors prefer the top 35% of the S&P500 instead of investing in undervalued stocks. The big names are sucking in capital like a black hole in the investing universe. I will continue to invest in resources because I think the day will come when we will need it and it will be considered a good investment. The commodities are important but it is not valued right now. On the other hand there is no need to hurry since we have other trading options all the time, but it is certainly wise to invest in commodities long term.
The Sectors:
We have positive timeframes in 10 Sectors, only the Healthcare Sector is red in Daily and Weekly.
This Weekly chart of the Technology Sector shows ATH and the dominant investment by general investors.
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