- The S&P 500 (-0.07%) closed flat, but the day started with many fireworks with share prices of many large stocks errantly moving double digit percentages
- 45% of stocks within the S&P 500 closed the day in the green
- The Dow Jones Industrial Average rose 0.31%, the NASDAQ Composite fell 0.27%, and the Russell 2000 also fell 0.27%
- Both the S&P 500 and the NASDAQ Composite both have strongly bullish postures
- The Dow Jones currently has a strongly bearish posture and the Russell 2000 is considered weakly bearish
- The S&P 500, NASDAQ Composite, and Russell 2000 are trading above their rising 30 day moving averages
- Three new stocks were added to the official 2023 S&P 500 Dividend Aristocrat list: NDSN, CHRW, and SJM
- The 10-Year Treasury Yield fell to 3.46% and remains below a falling 30 day moving average with a strongly bearish posture
- Bonds rallied across the board with all three major categories (U.S. Government bonds, Foreign bonds, and Junk bonds) holding on to strongly bullish postures
- The U.S. Dollar fell 0.11% and continues to have a strongly bearish posture (producing another oversold cluster today)
- Gold (+0.36%) hit another multi-month high; it has a strongly bullish posture and ended the day with an overbought cluster signal
- Oil fell about 2%, but maintains its position above its rising 30 day moving average and has a strongly bullish intermediate posture
- Bitcoin fell to $22,500 after producing an overbought cluster yesterday; it remains with a strongly bullish posture above its previous resistance area from November
- Emerging markets (+0.07%) rallied for their fourth straight session and continue to have a strongly bullish intermediate posture
- Preferred stocks (strongly bullish intermediate posture) had their first red candle of 2023 by falling 0.21%; it was a rather remarkable run
- The Sector Selector is highlighting lots of sector rotation in recent weeks that highlight an increase in risk appetite (Discretionary top, Staples bottom)
- Defensive sectors dominate the rankings of bearish Market Forecast postures: Health Care, Staples, Utilities, Real Estate, and Industrials
- Today’s worst sector was Health Care (-0.66%) and the best sector was Industrials (+0.66%); Communications Services hit a multi-month high
- Our trade application example featured selling an iron condor on Berkshire Hathaway (BRK/B) due to its sideways behavior now that the market is once again interested in more speculative securities
Please LIKE tonight’s Market Outlook video on Twitter and Facebook below:
Here's the intro of today's #MarketOutlook video from @MarketScholars
— Brandon Van Zee (@BrandonVanZee) January 25, 2023
Watch the full video for free here:https://t.co/u6Ai1CZu2h
Mentioned: $SPY $SPX $QQQ $IWM $RUT $DIA $TLT $TNX $UNP $UPS $UNH $MCD $TSLA $BTC $GOOGL $NFLX $SJM $NDSN $CHRW $TXN $MSFT $ISRG $MMM $VICI $BRKB pic.twitter.com/IWYmxgI4u6
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