Market Outlook – 05/18/18 – Brandon Van Zee
The S&P 500® closed lower by 0.26% today. The intermediate posture continues to be strongly bullish. The momentum line ended in the lower reversal zone. The combination of those two things created a bullish intermediate confirmation signal. The NASDAQ® also closed with that signal. The Russell 2000® hit another all time high on an intraday basis and was the only index to finish the week higher. It broke out this week and closed cleanly above its previous resistance area. The Industrials were the strongest sector of the market today courtesy of stocks like Deere (DE) and Boeing (BA). After a strong rise in recent sessions, the 10 year U.S. Treasury yield cooled off today and closed the week at 3.06%. The Financials Sector was the worst performer of the day, likely due to those falling interest rates.
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05/18/18 - View today's #MarketOutlook from @Market_Scholars here: https://t.co/preswSTczW Discussed: $SPY $DIA $QQQ $IWM #royalwedding $EWU $TNX $VIX $SPX $USO $GLD $TLT $RUT $XLE $EWW $BA $DE #DividendAristocrats $KMB— Brandon Van Zee ?? (@BrandonVanZee) May 18, 2018
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