- The S&P 500 (+0.7%) had a reasonably impressive rally, with a broad-based advance that resulted in 73% of stocks closing in the green
- The S&P 500, Dow Jones Industrial Average, and the Russell 2000 are now trading above their falling 30 day moving averages
- All four of the major U.S. equity indices now have a weakly bullish intermediate posture, according to the Market Forecast indicator
- All four of the indices also closed within a hair of their intraday highs, which is generally perceived bullishly
- The only index to not have a “3 Green Arrows” signal is the NASDAQ Composite, due to it still trading below its falling 30 day moving average
- The 10 Year Treasury Yield bounced back to 3.62% today, but it’s posture remains strongly bearish
- Bonds fell across the board today with the rebound in interest rates, but the High Yield bond category is now trading above its rising 30 day moving average
- Gold continues to be one of the workhorses in this market; it was up 0.37% today and hit yet another multi-month high
- Oil was flat today but remains below its falling 30 day moving average and has a strongly bearish posture
- Bitcoin had a nice day; it closed at nearly $17,500 and has a strongly bullish intermediate posture and has an uptrending 30 day moving average once again
- Emerging Markets (+0.72%) have been among the stronger asset classes while the U.S. Dollar has been weakening; they hit 3-month highs today
- Industrials are back at the top of the Sector Selector; Real Estate finds itself in the basement
- Technology and Health Care are the only two sectors with bearish intermediate postures
- Communications (+1.51%) was the day’s best sector; Consumer Staples (-0.13%) were the worst
- Our trade application example featured a bear call spread on Intuit Inc (INTU) due to its bearish intermediate posture and its bounce down and away from its falling 30 day moving average on a day of vast underperformance versus the broad market today
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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Strategy Lab™ features 25 investment strategies pitted against one another and ranked over multiple time periods. The strategies are categorized into the 6 factors researchers have found that lead to outperformance. This tool is available for premium members of Market Scholars to utilize in Brandon Van Zee's Trading Room focused on swing trading held each Wednesday at 2:00 pm ET.
The S&P 500® was flat today but its intermediate term[...]
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.