​•Stocks set fresh highs on relatively thin volume | Breadth divergences still remain | Technology, Industrials, Utilities and Staples break to fresh all-time highs | Retail lags | Financials (XLF) may not yet be done correcting | S&P 500 closes above R1 Pivot | QQQ closes above R2 Pivot | Fresh highs are bullish for stocks

•Resilience in junk bonds confirms bullish posture for stocks

•TLT maintains the gap from last week | AGG and LQD may be headed for a retest of all-time highs | This is concerning for the stock market

•US Dollar broke support last week, but is attempting to bottom | Retest of November lows still in the cards | Major currencies trade flat for the week

•Gold has another good week and could be headed for a retest of 2017 highs | Bullish divergence on GDX suggests a continuation of the move up

•Oil recovers some of the losses from Thursday’s plunge | The bigger trend is down for oil | XLE has another bad week | Bearish divergences on XLE suggest further downside | XES already at 52-week lows

•Peak Oil Demand may come as soon as 2020
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•BlackRock and Vanguard may “push [XOM] for a climate ”stress test” gauging impact of green tech on its assets”

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•Stocks set fresh highs on May 16th, but gap and run lower next day | More and more evidence points towards a correction | Breadth divergences present on many charts | QQQ is still the strongest of the major ETFs, but it is not immune from selling | Both QQQ and SPY are stalling at a yearly Resistance Pivot | IWM continues to chop around | Volume patterns for NYA are also suggesting a corrective pattern | Financials (XLF) retesting April lows and may not hold | XLF could be the leading indicator of a correction | Real Estate, Staples (XLP) and Utilities (XLU) have the strongest weekly gains and indicate a “flight to safety” scenario | Retail (XRT) very weak and could hit 52-week lows
•Junk bonds follow the stocks, but show more resilience to selling | Investment-grade corporate bonds and Treasuries have an excellent second week in a row reinforcing a risk-off posture
•Dollar index breaks support and likely headed for a retest of November lows
•Weakness in the Dollar is excellent news for precious metals | Gold has a Golden Cross | GDX consolidates gains | GDX has a bullish divergence
•Getting ready to short oil as it surges higher
•Natural gas chops sideways
•Copper could retest 52-week highs
Charts mentioned in this video are located here: stockcharts.com/public/1229503

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