Bad news and nervousness dominated the markets last week. In addition to the flared up riots on the streets, which also cause enough unrest among investors, market participants are waiting for good news that justifies the 36% rally since the low on March 23. The expectations were apparently disappointed. The news of a second Covid19 wave doesn’t give investors much courage either.
So there was an escape towards a safe haven – government bonds and gold.
The gold price rose 2.71% this week, making it the only winner of the week. Our benchmark index, the S & P500, lost about 5% and the oil about 8.5%. ONE SIGNAL delivered long signals for the entire week and was therefore unable to escape the trend. The stops made prevented major losses. ONE SIGNAL thus lost around 1.9%, however still outperformed its’ benchmark index.