- The S&P 500® fell by 0.16%; it is trading below its rising 30 day moving average and has a weakly bearish intermediate posture
- The Dow Jones Industrial Average was down 0.18%; it is trading below its falling 30 day moving average and has a strongly bearish intermediate posture
- The NASDAQ Composite rose by 0.13%; it still has a weakly bearish intermediate posture but it is bouncing nicely off its rising 30 day moving average
- The Russell 2000 fell by 0.07%; it has a weakly bearish intermediate posture and has been trading sideways for months
- The NASDAQ Composite is the only major index to not have a “3 Red Arrows” signal, but all MACD Histograms appear to be strengthening
- The U.S. Dollar was a strong performer (+0.44%); it now has a weakly bullish intermediate posture and is trading back above its rising 30 day moving average
- The strong Dollar pressured gold (-2.26%), which has a weakly bearish posture and is trading below its falling 30 day moving average
- The 10 Year U.S. Treasury Yield finished higher to 1.33%; it’s back to a strongly bullish posture and above its rising 30 day moving average
- U.S. government long bonds fell 0.46% today, but have managed to hang on to their strongly bullish posture; foreign bonds have an oversold cluster signal
- Bitcoin was flat today, but continues to find stability at its rising 30 day moving average
- Preferred stocks tracked yields higher and are back to a strongly bullish intermediate posture within an uptrend
- Developed foreign stocks have a strongly bullish posture and still appear to be relatively strong versus emerging markets (and large cap U.S. stocks)
- The strong Dollar had a negative impact on the Dollar-sensitive sectors of Energy (-1.13%) and Materials (-1.08%)
- The day’s best sector performance came from Consumer Discretionary (+0.46%)
- Discretionary and Energy are currently the only two sectors with a bullish intermediate posture
- Our trade application example featured a Buy/Write (or Covered Stock) trade on CRISPR Therapeutics (CRSP) due to its bullish Near-Term divergence, along with the possibility of a reversion-to-the-mean move after a recent oversold cluster signal
09/16/21 - Watch today's #MarketOutlook video from @MarketScholarshttps://t.co/mCJIDgHV8K
— 𝐁𝐫𝐚𝐧𝐝𝐨𝐧 𝐕𝐚𝐧 𝐙𝐞𝐞 (@BrandonVanZee) September 16, 2021
Mentioned: $SPY $QQQ $UUP $TNX $TLT $BTC $EFA $GLD $BABA $LVS $WYNN $BIDU $AFRM $DASH $BROS $OPAD $PLTR $BBL $NEM $ASAN $ARKG $BEAM $CLLS $CRBU #CRISPR $EDIT $GRPH $NTLA $SGMO $VERV $CRSP
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