Curt Renz Capital Resources

Stock Market

Market Outlook
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Elliott Wave International
 
On Friday, the popular stock market averages closed to the downside as monthly options expired. The rate for 10-yr treasury notes closed lower. The prices closed up for gold and crude oil.

The nearly five-month-old war with Iran continues with mutual air strikes and a naval blockade. This cannot be helpful to the stock market.

In a Thursday evening address, the POTUS returned to his claims of election fraud. Many analysts disputed the strength of those claims. This did not seem to have much of an effect on the Friday markets. Meanwhile, we must wait to see if this will have any effect on acceptance of the results of the midterm elections.

Rocket maker SpaceX (SPCX -5.4%) fell further below its June 12th IPO price. I suspect many space enthusiasts were pulled in without fully questioning the worthiness of the set IPO price.


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