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- The S&P 500® fell 0.76% today, but managed to retain its strongly bullish intermediate posture and continues to trade above its 30 day moving average
- The Dow Jones Industrial Average fell 0.94%; it too continues to have a strongly bullish posture and remains above its 30 day moving average
- The Russell 2000 was the day’s worst performer (-3.58%); it now has a weakly bearish posture and is trading below its 30 day moving average
- The NASDAQ Composite continues to be the laggard; it fell 1.12% and is trading below its 30 day moving average along with a having a weakly bearish posture
- The Russell 2000 has a “3 Red Arrows” signal; the S&P 500 has a “3 Green Arrows” signal
- Momentum stocks have fallen to the bottom of the Factor Selector; Value remains at the top and Dividend Yield has supplanted Low Size in the #2 slot
- The U.S. Dollar surged today; that led to pressure in commodities (gold down 0.73% & oil down 5.6%) and foreign stocks (developed down 1.4% & emerging down 1.9%)
- Emerging markets are still relatively weak and trading below a falling 30 day moving average, in addition to having a strongly bearish posture
- Two recently hot sectors (Energy and Financials) suffered today, finishing lower by 1.46% and 1.40% respectively
- Defensive sectors outperformed today; Utilities were up 1.49%, Staples were up 0.42%, and Real Estate was up 0.31%
- Our trade application example featured a selling a bear call spread on Tesla (TSLA) due to its continued bearish intermediate posture along with rolling over just below the 30 day moving average with relative weakness
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