S&P 500 Is 50 Points From A Breakout To 8,000 - Oil Flow Surges Through Strait, Yields At Resistance

The S&P 500 is sitting roughly 50 points from a bull flag breakout, and Chief Market Strategist Gareth Soloway walks through what that means for stocks, oil, gold, silver, Bitcoin and the ten-year yield heading into the trading week. Gareth opens on the biggest weekend headline: oil and natural gas shipments through the Straits of Hormuz have hit a six-month high. He explains why the U.S. mine-clearing effort and naval blockade are the reason crude sold off late last week instead of ripping higher on the Houthi strikes against Saudi Arabia. He is bearish on oil and short, and he lays out the one price he is actually watching this week, which is not the one most people track. On the S&P 500, Gareth breaks down the bullish bias zone, the pivot low from the Fed decision, and the bull flag that resolves above roughly 7,700. He walks through the parallel consolidation channel underneath it and explains why a market sitting within a few percent of all-time highs keeps shrugging off five percent yields, a Fed that may hike again in October, and oil near $100 a barrel. Gareth then covers crude oil pullback targets and the confluence that sets up the second one, gold stuck in what he calls purgatory, why a hawkish Fed is a near-term headwind for the metal even for a long-term bull, silver's make-or-break trend line, and Bitcoin's push toward a higher high. He explains the overhead supply zone waiting above and where he would rather buy the pullback. He closes on the ten-year yield double top and the one daily close that would change his entire outlook. CHAPTERS 0:00 Intro 0:31 Straits Of Hormuz Shipments Hit Six-Month High 1:12 Diesel Is The Real Inflation Driver 1:43 S&P 500 Bullish Bias Zone 2:00 Market Ignoring 5% Yields And Rate Hikes 3:07 S&P 500 Bull Flag Breakout Level 4:02 The Parallel Consolidation Channel 5:28 Gareth's Top Squad On YouTube 6:03 Crude Oil Pullback Targets 7:09 Gold Stuck In Purgatory 9:11 Silver's Make-Or-Break Trend Line 9:41 Bitcoin's Higher High Setup 12:22 Ten-Year Yield Double Top 12:53 Gareth's Bias Into The Week Free technical analysis, insights and the live portfolio: www.VerifiedInvesting.com Join Gareth's Top Squad for live Q&As, exclusive weekly videos, swing trade alerts and member discounts: https://www.youtube.com/channel/UCwTu6kD2igaLMpxswtcdxlg/join #StockMarket #Bitcoin #Gold #CrudeOil #TechnicalAnalysis