Stock market is very overbought … but also very bullish
Is 2015 style plunge in stocks possible today?
Junk bonds at all-time highs is confirming the move up in stocks
Investment-grade bonds and Treasuries surging
Defensive posture is now more pronounced in the stock markets as Utilities, REITs, Health Care and Consumer Staples approach all-time highs | Industrials, Technology, Cyclicals and Financials stall at all-time highs
Gold and dollar both moving higher – something has to give soon | Gold miners either rolling over … or getting ready for another leg up |
Oil goes nowhere for 11th week in a row | Energy ETF (XLE) is showing troubling divergences and may indicate more downside for oil
Natural gas may be headed for a retest of its 2016 breakout level

Watch this video on YouTube here:  youtu.be/_j0PNr60bME

​Dow Jones Industrial Average, NASDAQ, NYSE, S&P 500 and most major stock ETFs again at all-time highs | Participation in the rally (market breadth) is broad | Defensive sectors (REITs, Utilities, Staples, Health Care) catching-up to the rest of the market | Junk bonds again at all-time highs – this is good for stocks
Bonds seem to have hit a brick wall of support and are not dropping | Does this mean a pause in the stock market rally?
Forex: The Dollar pauses after 10 up days in a row | The Dollar (DXY) is still bullish long-term | EURUSD forms a weekly hammer candlestick | GBPUSD forms and Inside week | USDJPY wants to go higher, but may need to consolidate more | Drawing support on USDCAD weekly chart
Gold consolidates for a 2nd week at strong resistance | Market breadth for gold miners deteriorates | A bullish and a bearish case for GDX
Energy ETF (XLE) retesting breakout | Oil consolidates for the 10th week in row (as in 2015) | Natural gas may not be yet done correcting

Watch this video on YouTube here: youtu.be/0R4pMlSyvu0