On a sleeper day like today, that can only mean one thing, it is Summer. This is why all the big time market movers take vacation this time of year,
Everything was up today except Transports and it finished with a bullish hammer , lots of news highs and strongest on the day was the YTD weakest sector XOP , does this mean that energy has finally found a bottom, now we need to see this market hold these gains into the weekend
If you must own company stocks, look no further then my dream team portfolio, 5 of the 9 hit all time highs today
Market cap up by 20 billion in less then a week, it does look like the low has been but in, now lets see how long it takes to hit new highs
markets are starting the day a bit down, but I show 8 sector ETF’s hitting new yearly highs, very strong market which often means a pull back is coming
My weekly look at market trends sees lots of new highs in stocks, Oil down, gold and silver up but has not broken down trend, Bitcoin did break its down trend with a huge reversal move.
As the Deep State continues to launch non stop false allegations of Russian collusion against President Trump, The stock market seems to be operating in a different reality as DOW 30 hits another new all time high
It worries me when I see the market this bullish, only one sector below it’s 50 dma, This would not be a bad time to take a little off the top and buy it back on the next pull back
DOW hits and holds new all time high, while the tech sector gaps open higher, followed by huge selloff, followed by a late afternoon rally, leaving traders scratching their heads as to which way the market will finish the week
We are still at extreme bullish levels so a pull back is expected
CryptoCurrencies are still under pressure, but Bitcoin has surged +$200 today, now owning over 50% of Crypto market cap
Strong week for the DOW but S&P and Q’s down slightly, Bitcoin holds gains, Oil up for third week as is Gold and Silver, US dollar continues it’s decline. All this and more covered in my weekly market review video
We finished the month on a down note, with more than half the market below it’s 10 dma, this may just be some profit taking as most of the 50 dma are holding.
It has been a good summer so far but we are going into the two worst months of the year for market performance, can we continue to buck the norm
Mix day but mostly up, But look at this chart of the DOW, that could be a doji star or some may call it an abandon baby, either way this could be a short term top.
You can stick a fork in this one, really, Bitcoin has Forked and we now have Bitcoin Cash, with a 6 billion market cap, over all Crypto Market cap is pushing 100 billion, I would say all is good in Crypto land
Has Silver made another lower high, if so the pattern has been for a lower low to follow. But if we break that pattern that could cause the shorts to cover, if you are long silver then let’s hope that happens here
Crypto market cap is back over 100 billion, bitcoin fork has not hurt Bitcoin, but Bitcoin Cash is seeing selling here, Buying the dips in this market have paid off, so be patient and think long term
While the DOW-30 continues to hit new all time highs, the rest of the market is under going a pretty strong pull back, half of those still above their 50 dma could drop below this important level by weeks end. The rule has been to buy the dip, but being we are in August, this dip might turn into a correction. The DOW being a safe haven will likely do better then others, Look for Utilities ( XLU) to also do well if a correction takes hold. For currency traders this means the Yen might have a good run over the next few weeks,
