•Stocks tread water. Dow Jones Industrial Average hits a new all-time high. QQQ still pulling back from very overbought levels. Semiconductors, but not the Biotech is doing most of the correcting. Financials maintain last week’s gains. Retail (XRT) moves within a striking distance of the 52-week lows. Industrials, Health Care and Utilities hit fresh highs. Real Estate is just behind them.
•Junk bonds sell-off for a second consecutive week, but they still hit fresh high intra-week. Bonds outperform stocks as investment-grade debt continues to fresh 2017 highs •The Dollar is attempting to make a stand not far away from November lows. •Gold may be feeling the effects of firming dollar as it loses for the 2nd week in a row. GDX is also under pressure, but is oversold already. •Oil continues lower, while Energy attempts to bottom. Which one would be correct? •Natural gas prints a second hammer-like weekly candlestick Charts mentioned in this video can be found here: stockcharts.com/public/1229503 |
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Stock Market Recap: June 16, 2017 - SPY QQQ SMH DIA XLF XLI XLU IYR UUP GLD GDX USO UNG XLE IYR XRT6/16/2017 Ready to trade? Sign-up Today
1 Comment
indira
7/10/2020 04:55:32 am
Hi. Great comment. I don’t have all the answers. My thoughts are as follows:
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