- The S&P 500 (-0.76%) suffered its third straight day of losses; just 22% of stocks managed to close higher
- The Dow Jones Industrial Average also fell by 0.76%
- Both the S&P 500 and Dow Jones Industrial Average have weakly bearish intermediate postures and are trading below falling 30 day moving averages
- The NASDAQ fell by 0.96%; it has a weakly bearish posture and is trading above its falling 30 day moving average
- The Russell 2000 fell by 0.97%, but it remains this market’s current leader (the only broad index with a strongly bullish intermediate posture)
- The Low Size factor confirms the Russell 2000 outperformance and is now at the top of the Factor Selector; Dividend Yield dropped to third place
- The 10-year Treasury Yield rallied to 3.39%; it has a strongly bearish posture, but closed the day with an oversold cluster signal
- The U.S. Dollar fell 0.25% and has a strongly bearish intermediate posture
- Gold (strongly bullish posture) rallied another 1.59% to new multi-month highs; it continues to trade well above its rising 30 day moving average
- Preferred stocks (strongly bullish intermediate posture) closed exactly flat today, thus ending its prior 13-day win streak
- Bitcoin remained strong and closed near $21K as it hovers near 3-month highs
- Emerging Markets (+0.76%) and developed foreign stocks (-0.16%) were heading in two separate directions today, but both have easily beat the SPX lately
- The only three sectors currently with a strongly bullish intermediate posture are Communications (+0.51%), Energy (+1.24%), and Real Estate (-0.49%)
- Today’s worst sector was Industrials (-2.06%), which is now trading below a falling 30 day moving average with a weakly bearish posture
- Our trade application example featured buying a bear put spread on Sigma Lithium (SGML) due to its bearish Near-Term divergence and a sell-off that pushed it back below its falling 30 day moving average
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Here's the intro of today's #MarketOutlook video from @MarketScholars
— Brandon Van Zee (@BrandonVanZee) January 20, 2023
Watch the full video for free here:https://t.co/TvtX1iYzgn
Mentioned: $SPY $SPX $QQQ $IWM $RUT $DIA $TLT $TNX $UUP $GLD $PFF $EEM $EFA $TSLA $NEM $BTC $GS $PG $LIT $PLL $TSLA $GOOGL $K $NFLX $LLY $PM $SGML pic.twitter.com/UlRWR5L6sO
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