- The S&P 500® rose a relatively meager 0.58% during the normal session; however, the real fireworks came afterhours when futures vaulted higher by an additional 3%
- The NASDAQ Composite once again led the other indices higher with a 1.66% gain, while the Dow Jones Industrial Average and Russell 2000 hugged the flat-line
- All indices have bullish intermediate postures according to the Market Forecast technical indicator (the Russell 2000 is considered weakly bullish)
- All indices have a “3 Green Arrows” signal due to the Russell 2000 closing back above its 30 day moving average once again today
- Crude oil, U.S. Dollar, and Treasury yields continue to have bearish postures
- Gold took a breather and was trading lower afterhours, but it is well entrenched into a strong upward trajectory and traders will be looking for more entry opportunities
- The U.S. stock market has generally been outperforming versus foreign stock markets; all key global equity indices were trading higher afterhours and have a bullish posture
- The sectors are split fairly evenly between bullish postures (Communications, Technology, Discretionary, Health Care, Staples, Utilities) and bearish postures (Financials, Industrials, Materials, Energy, Real Estate)
- Our trade application example featured a potential short sale on TJX if it trades below today’s low at some point during tomorrow’s session; it has been struggling to stay above its falling 30 day moving average recently
About Brandon Van Zee
Brandon is a co-founder of Market Scholars, where he builds portfolios while teaching daily interactive online classes and is a host of the Market Outlook YouTube video. His focus is on dividend growth investing, top-down trend trading, and put selling. He has been in the financial services industry and investing his own portfolios since 2000. Prior to Market Scholars, he was an Investment Instructor and Subject Matter Expert (SME) for dividend investing at TD Ameritrade’s education division, Investools. There he taught webinars, conducted in-person workshops, and helped write their Income Investing course material along with the scoring system used for dividend stocks. He was also the host of the Dividend Depot podcast and the Market Forecast YouTube video, along with writing for The Ticker Tape magazine and Coaching Corner blog. Other roles he has held in the financial industry include: Dividends/Reorganizations Specialist(RBC Wealth Management), Assistant Trader(RBC Global Asset Management), Head Trader(Provident Capital Corp), and Investment Specialist(TD Ameritrade). Brandon spends his free time traveling and enjoying summertime mountain activities(hiking, fishing, camping) with his wife and son.
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The daily Market Outlook™ video helps viewers understand important movements within the trading world and set their investing postures appropriately. This popular YouTube video offers a comprehensive review of important financial considerations utilizing technical analysis, macroeconomic analysis, and fundamental analysis. The presentation ends with an application example using a virtual trade to help put the educational theories learned into motion.
The Sector Selector is a two part infographic that educates traders on current sector rotation trends. The top image is an overview of the pathway of the 11 sector rankings over the previous three months. The more-detailed bottom image shows investors how those S&P 500 sectors have been scored in each of their five individual performance categories. It also notates the individual stocks in the Market Scholars 1000 list that are hitting 52-week highs and 52-week lows. The full graphic is made available to premium Market Scholars for usage in Brandon Van Zee's Trading Room, which is held on Mondays mornings and focuses on Top-Down Trend Trading.