- The S&P 500 fell by 0.57% but remains barely above its falling 30 day moving average; 42% of stocks closed in the green
- The S&P 500 and Russell 2000 (+0.01%) have strongly bearish postures
- The Dow Jones Industrial Average (-0.05%) ended the day with a Bullish (weakly) Intermediate Confirmation Signal
- The NASDAQ Composite (-1.04%) was the day’s worst performer; it has a weakly bearish posture
- The Dow, the NASDAQ, and the Russell 2000 are all trading below their falling 30 day moving averages
- The 10 Year Treasury Yield fell to 4.26%; it has a strongly bullish posture and is above its rising 30 day moving average
- Long Term Treasuries rose 0.58%; it has a weakly bullish posture (as do foreign bonds and junk bonds)
- The U.S. Dollar (strongly bullish posture) rallied by 0.17% and is near multi-month highs; it remains above its rising 30 day moving average
- Gold (strongly bearish) fell by 0.52%, and oil (strongly bullish posture) rose 1.7% to new multi-month highs
- Emerging markets were down 0.31% and Developed Foreign was down 0.41%; both have strongly bearish postures
- Preferred stocks (strongly bearish) continue to struggle below the falling 30 day moving average
- Bitcoin ended the day higher by 3%, but is having a hard time moving away from $26,000
- Energy is at the top of the Sector Selector, its got the strongest Market Forecast posture, and was up the most today (+2.36%)
- Technology (weakly bearish) was the day’s worst sector (-1.81%), mostly due to a sour response to Apple’s product event
- Our trade application example featured buying a longer-dated (January) call on CRISPR Therapeutics (CRSP) as a speculative lower-probability play on their upcoming FDA announcement, now that the stock has regained its 30 day moving average and recently bounced from a support level, which used to be resistance
Please LIKE tonight’s Market Outlook video on Twitter and Facebook below:
09/12/23 - Watch the full #MarketOutlook video from@MarketScholars here:https://t.co/BPWgTzd2V1$SPY $SPX $QQQ $IWM $RUT $DIA $DJIA $COMP $TLT $TNX $UUP $EEM $EFA $USO $GLD $BTC $NVDA $META $MSFT $AAPL $TSLA $GOOG $AMZN $LLY $UNH $JNJ $ZION $VRTX $ORCL $WFC $GS $MS $CVX $CRSP pic.twitter.com/UCq3mImJb9
— Brandon Van Zee (@BrandonVanZee) September 13, 2023
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