Markets Surge: Where's The Top? Trader On Next Levels For Stocks, Gold | Kevin Steur

Summary

Kevin Steuer of Stock TA reviews the sharp rebound in stocks, gold, and risk assets, attributing it to a shift in Fed expectations and hedge fund buying. He discusses his algorithmic approach and presents bullish setups for gold, gold miners, software ETF IGV, the S&P 500, and copper, while remaining cautious on oil and the sustainability of the AI trade.

• Markets rebounded aggressively in early August with S&P 500 and Nasdaq hitting new highs and gold surging 10% in days.
• Steuer uses a technical algorithm that caught the swing; he is now buying gold, gold miners (GDX), and the software ETF IGV.
• He sees SPY as supported with heavy demand at 751.32 and not overbought, favoring dip-buying.
• Copper is a consistent long for him due to supply constraints and data center demand.
• Oil remains volatile and hard to trade; he prefers the refiners ETF CRAK but the signal is weakening.
• He warns that AI chip stocks and data center buildout face major headwinds from power grid limits, shortages of copper/labor, and China's cheaper AI.
• Netflix is attempting to form a bottom but no clear trade call; SpaceX is a avoid until share structure risks clear.
• Steuer emphasizes risk management, diversification, and using stops to avoid large drawdowns in an uncertain geopolitical environment.