- The S&P 500 (-0.20%) had a quiet day to snap its four day win streak; breadth was bearish with only 38% of components closing positive
- The S&P 500, Dow Jones Industrial Average, NASDAQ Composite, and the Russell 2000 all have strongly bullish intermediate postures
- All four major U.S. equity indices are trading above their 30 day moving averages; the Russell is trading above its rising 30 DMA
- The NASDAQ Composite (+0.14%) closed green for its seventh consecutive day, but remains a laggard on an intermediate time perspective
- The Russell 2000 (-0.15%) is the new leader from an intermediate perspective and is just a stone’s throw from new multi-month highs
- The Dow Jones Industrial Average (-1.14%) was a major laggard today, due to the heightened impact from Goldman Sachs and Travelers
- All major U.S. equity indices now have a “3 Green Arrows” signal
- Bitcoin has erupted higher over the past week, it was up nicely today as well and has a strongly bullish posture as it breaches 21,000
- The 10 Year Treasury Yield bounced back to 3.53% today, but it remains below its falling 30 day moving average
- The U.S. Dollar rose 0.29%, but it remains stuck in a significant downtrend with a bearish posture
- Gold (strongly bullish posture) was down 0.65% today, but continues to impress with its relentless push higher over the last few months
- Preferred stocks (+1.01%) broke out today; they’ve now been up twelve days in a row, which is highly uncommon throughout history
- Emerging Markets (-0.56%) and developed foreign stocks (+0.31%) were heading in two separate directions today, but both have easily beat the SPX lately
- The only two sectors currently with a bearish intermediate posture are both defensive sectors: Staples (+0.07%) and Utilities (-0.14%)
- Today’s best sector was Energy (+0.21%) and today’s worst sector was Materials (-1.00%)
- Our trade application example featured a bear call spread on T-Mobile Inc (TMUS) due to its bearish Near-Term divergence and its sell-off from an important area of resistance that’s been rejected multiple times in the last few months
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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Factor Selector™ features 24 investment strategies from 6 different factors pitted against one another and ranked over multiple time periods. 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 11:00 am ET.
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.
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