- The S&P 500®, Dow Jones Industrial Average, and Russell 2000 fell for their fourth straight days, but the losses were moderate and uptrends are still mostly intact
- The S&P 500® fell by 0.46%; it is still trading above its rising 30 day moving average and has a bullish intermediate confirmation signal
- The Dow Jones Industrial Average was down 0.43%; it has a weakly bearish intermediate posture and is trading below its falling 30 day moving average
- The NASDAQ Composite fell by 0.25% but is still the strongest index according to the intermediate posture of the Market Forecast indicator
- The Russell 2000 fell by 0.03%; its chart continues to chop sideways but it did end the day with a bullish intermediate confirmation signal
- The Dow Jones Industrial Average has a “3 Red Arrows” signal; the NASDAQ Composite has a “3 Green Arrows” signal
- Momentum continues to lead on the Factor Selector; Dividend Yield continues to lag
- Interest rates fell today; the 10 year U.S. Treasury yield ended at 1.29% and is still trading above its rising 30 day moving average but has a weakly bearish posture
- U.S. Government bonds, foreign bonds, and junk bonds all rose today, but foreign bonds still have a bearish intermediate posture
- The U.S. Dollar fell 0.24% and was rejected at its falling 30 day moving average
- Developed foreign stocks finished in the red (-0.17%), but once again outperformed foreign emerging and U.S. stocks
- Strangely, Real Estate was the worst sector (-2.12%) and Financials were the best (+0.29%) despite interest rates falling today
- Our trade application example featured selling an iron condor on the gold ETF (GLD) due to sideways trading behavior and a chart that continues to pinch inwards towards its moving average
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