• The S&P 500® finished essentially flat today (+0.07%) and retains its strongly bullish intermediate posture; the Dow Jones Industrial Average hit an all-time high
• All four major U.S. equity indices have strongly bullish intermediate postures according to the Market Forecast technical indicator and are trading above rising 30 day moving averages
• Only the Dow Jones Industrial Average and NASDAQ Composite continue to have a “3 Green Arrows” signal
• All four major U.S. equity indices have bullish 10-40 weekly moving average crossover signals
• 10 Year U.S. Treasury yields fell again today and ended at 1.87%
• Falling rates allowed for a number of “risk-off” assets to bounce higher today after recent oversold cluster signals (exp: REITs, Utilities, preferred stocks, bonds, gold, etc.)
• The defensive sectors of Utilities, Real Estate, and Consumer Staples were today’s biggest winners; the biggest loser was the Financials sector
• Growth stocks have come back into vogue recently and have taken share from Low Volatility stocks
• Soft commodities like Cocoa and sugar have been firming up, while the “metals” have struggled on a relative basis
• Our trade application example featured purchasing shares of the Gasoline fund (UGA) for a swing trade after recognizing a bullish near-term divergence

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