- The S&P 500 rose by 0.84% with 86% of its components closing in the green; the VIX fell to 12 (multi-month lows)
- The S&P 500 and NASDAQ Composite (+0.81%) have strongly bullish postures and are above rising 30 day moving averages
- The Dow Jones Industrial Average (+0.96%) has a weakly bullish posture and is back above its falling 30 day moving average
- The Russell 2000 (+1.41%) was the day’s best performer, but still has a strongly bearish posture and is below its 30 DMA
- The S&P 500, Dow Jones, and NASDAQ have a “3 Green Arrows” signal; the Russell 2000 still has a “3 Red Arrows” signal
- All four indices continue to have bullish crossovers on the 10/40 weekly chart
- Quality continues to lead and Low Size continues to lag on the Factor Selector
- The U.S. Dollar (strongly bullish posture) rallied by 0.62% to new multi-month highs; it ended with an overbought cluster
- Gold (weakly bullish) rose by 0.05%, and oil (strongly bullish posture) rose 1.81% to new multi-month highs
- Emerging markets were up 0.67% and Developed Foreign was up 1.32%; both have strongly bullish postures
- Preferred stocks (weakly bullish) popped back above its falling 30 day moving average
- Bitcoin ended the day higher by 1%, but is still well below its falling 30 day moving average
- The 10 Year U.S. Treasury Yield ended higher at 4.28%; its still in a significant uptrend
- Long Term Treasuries were down 0.72%, but both the foreign bond and junk bond categories closed higher (all three have bullish postures)
- All sectors closed higher today, led by the interest rate-sensitive areas of Utilities and Real Estate
- Industrials and Consumer Staples are the only two sectors that remain with a bearish posture
- Our trade application example featured selling a bull put spread on The Home Depot (HD) due to its bounce up and off its rising 30 day moving average; both its Near-Term and Intermediate Market Forecast postures shifted to bullish today
Please LIKE tonight’s Market Outlook video on Twitter and Facebook below:
09/14/23 - Watch the full #MarketOutlook video from@MarketScholars here: https://t.co/vjWOLWfni8$SPY $SPX $QQQ $IWM $RUT $DIA $DJIA $COMP $TLT $TNX $UUP $EEM $EFA $USO $GLD $BTC $NVDA $META $MSFT $AAPL $TSLA $GOOG $AMZN $GS $MS $CRSP $ARM $UPS $MA $V $MO $ABBV $NFLX $DIS $HD pic.twitter.com/RksTBNhn3X
— Brandon Van Zee (@BrandonVanZee) September 15, 2023
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