- The S&P 500® finished slightly higher (+0.17%) and at a new all-time closing high, but actually ended up having more decliners than advancers within the index
- In an abnormality, the Dow Jones Industrial Average was the only major index to hit an all-time intraday high even though it was the only index to finish lower (-0.02%)
- The NASDAQ Composite was the day’s biggest winner (+0.38%) and achieved a new all-time closing high, and narrowly missed setting a new intraday high
- All four major U.S. equity indices continue to have strongly bullish intermediate postures according to the Market Forecast
- All four major U.S. equity indices have “3 Green Arrows” signals on daily charts, and “golden crosses” on their 10/40 weekly moving average charts
- The Low Size factor continues to be at the top of the Factor Selector tool, and the Low Volatility factors remains on the bottom
- The U.S. Dollar has a weakly bearish intermediate posture, but its sitting right at its 30 day moving average; preferred stocks now have a weakly bearish posture too
- U.S. Treasuries and foreign bonds remain in downtrends and exhibit strongly bearish intermediate postures
- Bitcoin had another wonderful session, effectively closing at a new all-time high just below $50,000 and retained its strongly bullish intermediate posture
- Both foreign and domestic stocks still appear to be in bullish trends, emerging markets are particularly strong
- The workhorse from a sector-perspective today was Technology, which finished higher by over 1% and closed at a new all-time high
- Energy was the day’s worst performer (-1.54%) and ended with a fairly ugly candle at a resistance area
- Utilities are the only sector with a weakly bearish intermediate posture
- Communications finished higher for its 9th straight day and may have been positively benefitted by the successful IPO of Bumble
- Our trade application example featured selling a LEAPS put on Kellogg Company (K) due to its oversold cluster signal on a weekly candle chart, in addition to its historically-attractive valuations and dividend yield
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