•All major stock indices break-out to new all-time highs
The rally is broad as most sectors also put in all-time highs Notable exceptions are Financials and Energy •Junk bonds confirm the highs in the stock market Treasuries outperform stocks 30-year yield keeps falling from March highs Investment-grade corporate bonds approach all-time highs •US Dollar under pressure as it puts in a 2017 low Has Euro and Pound turned bullish? Yen continues to gain vs. the Dollar •Gold is taking advantage of the weaker Dollar and gains for the 3rd week straight Gold miners lag the precious metal •Oil has another bad week with an over 4% loss The bigger trend for oil is down XLE approaches 52-week lows XES and XOP are already there •Natural gas gaps down and runs almost 10% lower for the week – this is likely an opportunity to get long Charts discussed in this video are located here: stockcharts.com/public/1229503 |
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