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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

5/7/2017

2 Comments

 
​•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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2 Comments
robert giorgini
5/7/2017 07:36:46 am

you always use daily charts which i think have to much volubility

as a retired investor i like monthly charts for INVESTING and then at month end compare with weekly chart.

nice to view your commentary for INVESTORS.

ENJOY YOUR CHARTS, THANK YOU

Reply
Alex link
5/8/2017 04:11:26 pm

Thanks for the good word!

I agree that daily charts sometimes are a bit unclear because of the day to day volatility.
As part of the subscription service, I also offer the Dividend Aristocrats page which uses weekly chars exclusively for the longer-term holds.

Alex

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