•Stock set new record highs | QQQ leads as Apple, Facebook, Alphabet and Microsoft hit new highs | Seasonality – sell in May and go away? | Small caps retesting breakout | Industrials, Technology, Discretionary, and Health Care lead | Real Estate prints a Hammer candlestick with a follow-through | Utilities also very strong | Financials may again retest April lows | Junk Bonds pull back from all-time highs
•Investment-grade bonds slide for the week, but are not yet done for and could still rally
•US Dollar at a critical juncture | Break below current levels could mean a retest of November lows | Or maybe this is a cup and handle pattern on weekly charts that will result in new multi-year highs? | Euro gains for the 4th straight week | British Pound may be rolling over back down | Dollar gains vs. the Yen
•Gold has a terrible week despite a weaker dollar | GDX makes a lower low below the March lows | Small bullish divergence leaves a possibility of a bounce, but 52-week lows are not that far off
•Oil makes a fresh 2017 low, but late week buying helps print a hammer-like candlestick | Bearish divergence plays out on XLE | XLE somewhat oversold after a 15% slide since December | XLE is also is at a record un-correlation from the general market
•Natural gas trades sideways
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Stock Market Recap: May 5, 2017 - SPY QQQ IWM XLY XLI XLV XLE XLU IYR XLF UUP GLD GDX USO UNG
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5/7/2017 07:36:46 am
you always use daily charts which i think have to much volubility
Thanks for the good word!
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