Market Outlook – 05/31/18 – Brandon Van Zee
The S&P 500® fell 0.69% after traders sold globally-focused stocks after seeing the world’s reaction to steel and aluminum tariffs announced in the United States. The intermediate posture remains strongly bullish for the time-being. However, a posture change could come as soon as tomorrow because the intermediate line is falling and sitting at 80.63. The momentum line is in the lower reversal zone. Its positioning along with the bullish intermediate line combine to form a bullish intermediate confirmation signal, which is also being displayed on the NASDAQ®. Lessening the enthusiasm around that signal is the fact that the near-term line is not between the 50th and 20th percentiles. The only two sectors that closed higher in the United States today were Utilities and Technology.
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05/31/18 - View today's #MarketOutlook from @Market_Scholars here: Discussed: https://t.co/Q512VNZRUf $SPY $DIA $QQQ $IWM $TNX $VIX $SPX $XLU $TLT $RUT $XLK $EWC $UUP #tariffs #jobs #payroll #tradewars $HSY— Brandon Van Zee 📉📈 (@BrandonVanZee) May 31, 2018
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