•NASDAQ hits new highs this week
• Most major indices are in an uptrend and approaching new highs
•Pockets of strength are: Technology, Industrials & Financials
•This is generally a good sign for the stock market
•Interest rate sensitive sectors (Utilities, Real Estate, Preferred stocks) are bouncing, but likely still in a downtrend
•Staples (XLP) may be setting up for another leg down
•Bonds and Treasuries are also bouncing, but are also likely in a downtrend
•The Dollar gains strongly against Canadian, Australian and New Zealand dollars
•Gold-related assets under pressure as Dollar firms vs Euro & Pound
•Oil and Energy stocks diverge. Will the stocks lead the commodity lower?
•Copper futures may be finding resistance near recent highs
•Natural gas bearish overall, indecisive currently
•I would short all cryptocurrencies including: Bitcoin, Litecoin, Ripple & Etherium
•Sign-up at www.MasterChartsTrading.com to get the Elite Trading indicators!
Follow me on Twitter, StockTwits, YouTube, TradingView, Stockcharts, and FaceBook!
• Most major indices are in an uptrend and approaching new highs
•Pockets of strength are: Technology, Industrials & Financials
•This is generally a good sign for the stock market
•Interest rate sensitive sectors (Utilities, Real Estate, Preferred stocks) are bouncing, but likely still in a downtrend
•Staples (XLP) may be setting up for another leg down
•Bonds and Treasuries are also bouncing, but are also likely in a downtrend
•The Dollar gains strongly against Canadian, Australian and New Zealand dollars
•Gold-related assets under pressure as Dollar firms vs Euro & Pound
•Oil and Energy stocks diverge. Will the stocks lead the commodity lower?
•Copper futures may be finding resistance near recent highs
•Natural gas bearish overall, indecisive currently
•I would short all cryptocurrencies including: Bitcoin, Litecoin, Ripple & Etherium
•Sign-up at www.MasterChartsTrading.com to get the Elite Trading indicators!
Follow me on Twitter, StockTwits, YouTube, TradingView, Stockcharts, and FaceBook!
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