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S&P 500 gaps to all-time highs and touches the yearly R1 Pivot Point | QQQ, IWM and Dow Jones Surge to fresh highs | Breadth and momentum divergences on IWM | Most sectors, including the defensive once, hit fresh highs |
High yield bond funds also at fresh highs for the move | Investment-grade bonds drop sharply, but is this a buying opportunity? Forex: US dollar index pushes higher |Euro, Pound, Yen & Canadian Dollar drop | Mexican Peso rallies (Sell the rumor, buy the news?) Gold under pressure from rising dollar | Gold miners oversold in the short-term, but market breadth is deteriorating and new 52-week lows are appearing within the index | Recent trade example: GDX Oil: Is 3rd time the charm for the bears? Energy ETF (XLE) is showing modest improvement, but bearish divergences remain Natural gas may finally be done correcting Many of the charts mentioned in this video are located on our public charts page here: stockcharts.com/public/1229503 |
Watch this video on YouTube here: youtu.be/lAPV2QXWMUo
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