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•Stocks hit fresh all-time highs (ATHs) – this fact alone is very bullish for the stock market |
QQQ and IWM gap to ATHs | QQQ maintains the gap, while IWM closes it | Mild bearish divergences show up on IWM charts | Technology (XLK), Discretionary (XLY), Industrials (XLI), Materials (XLB) and Staples (XLP) hit ATHs | Utilities (XLU) and Health Care (XLV) right behind | Financials (XLF) and Real Estate (IYR) lag the general market | European stocks gap to fresh highs on the heels of French elections •Junk bonds also ATHs show a decent appetite for risk | Investment grade bonds (LQD, TLT, AGG) maintain their levels | Selling pressure is still muted for bonds •US Dollar at an important support level | Time to short Euro and Pound? | Dollar gains vs. Canadian dollar and the Yen •Gold and gold miners weaken together with the Dollar – which one would be correct? •Oil is attempting to stabilize | Energy (XLE) with a divergence relative to oil •Natural gas gains on strong weekly candlestick Charts mentioned in this video can be found here: stockcharts.com/public/1229503 |
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