•SPY holds at the 50 day moving average. $SPX prints a second Inside weeks in a month. QQQ bounces around May lows helped by the Semiconductors. Volume breadth divergences still persist, but overall evidence strongly favors the bulls. Financials and Transports make fresh all-time highs. XLI, XLY, XLP, XLU, and IYR likely ready to follow higher.
•Junk bonds with a possible topping pattern. Treasuries and Investment-grade bonds oversold and could rally.
•The Dollar index attempting to hold around November 2016 lows. Euro trades around 52-week highs, but dollar gains vs. the Yen.
•Silver flash-crashes to 52-week lows intraday. Is gold next? Gold under pressure as it closes below May lows. Inside week for GDX (triangle consolidation) resolves to the downside and a break below May lows could be very bearish.
•Oil gives back most of its gains from last week. XLE approaches 52-week lows.
•A retest of February lows for Natural gas is now more likely as it closes below June lows. Comparing NATGAS vs UNG.
Watch this video on YouTube!
•Junk bonds with a possible topping pattern. Treasuries and Investment-grade bonds oversold and could rally.
•The Dollar index attempting to hold around November 2016 lows. Euro trades around 52-week highs, but dollar gains vs. the Yen.
•Silver flash-crashes to 52-week lows intraday. Is gold next? Gold under pressure as it closes below May lows. Inside week for GDX (triangle consolidation) resolves to the downside and a break below May lows could be very bearish.
•Oil gives back most of its gains from last week. XLE approaches 52-week lows.
•A retest of February lows for Natural gas is now more likely as it closes below June lows. Comparing NATGAS vs UNG.
Watch this video on YouTube!
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