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
Market Recap: February 17, 2017 - SPY DIA QQQ IWM NYA XLK XLY XLI XLV XLF XLE XLU IYR JNK TLT LQD UUP GLD GDX USO UNG
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7/10/2020 05:01:53 am
Hi. Great comment. I don’t have all the answers. My thoughts are as follows:
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