The leaders of the member states of the European Union are meeting today in Estonia. Their main concern will be the digital future of the EU. But they will use dinner to debate the future of Europe in general. Last Tuesday, Emmanuel Macron, the President of France, shared a new vision on Europe with students at the prestigious Sorbonne university in Paris. He wants a stronger Europe, which is founded on a solid French-German axis. To Macron, the cherry on the pie would be a European minister of Finance. Bearing the outcome of the German elections in mind, we can expect a half-hearted German response. In the long run, however, Macron’s ideas might bring the European Union to a threshold of a new phase.
Major US stock market indices closed up, led by a rise in financials and technology stocks. The S&P 500 gained 0.41%, the NASDAQ added 1.15% and the Dow closed 0.25% higher. Volatility eased: the VIX closed below 10 points once again at 9.87 (-2.95%). XIV ETNs were on the rise and added 0.63%. UVXY ETFs closed 1.21% lower.
All of our models recorded gains yesterday. Danny Daredevil saw his RSS rise to 35%. Adventurous Anny closed at exactly 5% since her start at 6 March 2017. Solid Suzy and Lazy Larry continued their rise: their RSS is approaching 42%.
None of our models gave a trading signal at the end of yesterday’s session.
RSS = Return Since Start | YTD = Year-To-Date | QTD = Quarter-To-Date | AAR = Average Annual Return
There is a proper time for everything. Yesterday morning, a quick glance at the weather forecast for the week ahead showed that in the Netherlands, it would be a rather good day for the outdoor-minded. René counted himself lucky that there was nothing on his to-do list that couldn’t be done after sunset. Soon enough, the days will be dark, cold and wet again. All the more reason to soak up every last bit of summer you can. Carpe diem!
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