Estimated go live date is Monday, September 18th
•After hitting fresh record highs, stocks move sharply lower on geo-political concerns
SPY, QQQ, IWM, but not Dow Jones fall below the 50-day moving averages
Financials (XLF) hit all-time highs. XLP bounces, while Utilities again set new records
Biotech, Semiconductors, and many foreign stock funds look oversold and ripe for a bounce.
•Junk bonds look “toppy” as investment-grade bonds outperform stocks for the second week
•US Dollar is still having trouble finding the bottom.
Euro gains for the 5th straight week
•Gold enters a potential resistance zone around $1300
GDX is looking better with new highs appearing in the index
•Copper at 52-week highs. Recent trade in JJC
•Oil bears are still having a hard time. XLE again approaches 52-week lows
•Natural gas surges over 7% and prints a potential Bullish Engulfing pattern