Stocks rallied today on belief the Brexit would fail, someone is getting fired tomorrow
Itâs ugly but itâs not the end of the world, my top 3 of two weeks ago finish 1,2,3 again this week, and had you been invested in those top three you would had fared far better then most. Where the market goes from here is a guessing game, what I would like to see is a selloff in the morning, that would get the dumb money out of the market, then we might see the smart money come in and rally the market, remember with GB and Europe in turmoil the US is still considered a safe haven.
Where I am putting my money, Gold, Gold miners, Utilities and consumer staples
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as expected, another day of selling, we are off the low and back above 2000 in the S&P. waiting to see buyers come in, it has not happen yet, the shorts will need to buy to cash in so one way or another we will rally at some point
Note; we are still closer to a new yearly high then to a new yearly low, take that how you will
S&P500 weekly
Very few bright spots in todayâs market, Here is Utilities making a new all time high, REITâs are positive and Consumer Staples are down just a few cents. everything else is pretty ugly
The rally continues, this is looking like more than just a short cover rally. So we are back in the upper half of this 2 year range. Back to positive for the year. another day of this and it will be like the Brexit never happen
Up up we go, S&P is now above where it started the day of the Brexit vote. This is a strong move but we will not know just how strong until the next pull back,
Last trading day of the month and end of 2nd quarter, this is a good time reallocate. Strongest sectors have been defensive sectors and that is where I will be moving too
Top six are same from a week ago, Biotech had a very strong move that needs watching.
Major indexes are back at resistance levels, we have been here before and before and before, is this the time we finally move higher
Did you say Brexit, what Brexit
YTD date numbers,
Most of the market is red today but these three ETFâs from the top of my SW rankings are hitting all time highs today
XLU, RWR, XLP
Looking at the S&P 500 , there just does not seem to be any buyers above 2100
NFP tomorrow, maybe that can give us a needed push
Here is my Strong Weak rankings for my top 22 ETFâs
Also see my weekly market review video at
New all time high for S&P 500, now lets see if we can hold it into the close
Dow 30 has joined S&P at all time high, 18,371 before pulling back
Here is my Strong Weak rankings for the 22 ETFâs I follow,
These 7 made new all time highs this week, DIA, MDY, RWR, SPY, XLI, XLK, XLP
Here is a link to this weeks market review video
the VIX is telling us now is not the time to be adding new positions. Best buying opportunities have come with the VIX above itâs 40 week moving average
Stocks have another positive week, both DOW and S&P at new all time highs
My Strong weak rankings for my top ETFâs, we see the top seven from two weeks ago remain in the top seven last week.
Markets are very strong right now but beware of August and September, not good months for stocks
Here is my weekly market review video
Here is a YTD look at my top ETFâs note XBI ( Biotech) this might be the weakest year to date but has been strongest the previous 3 years and is making a strong move in recent weeks climbing to #2 on my W/S rankings, Top ranked XME looks ready to make another move higher
I am watching what could be an inverse head and shoulder bottom in oil, we could see further pullback with a reversal near 38.00,
a good contrarian indicator of a market top is people trying to sell you on the next big stock move
Here is my Strong Weak rankings for my top 22 ETFâs , sorry I am a little late, busy weekend. These rankings do include Mondayâs action up to 2 oâclock
Markets are extremely bullish here, be careful if thinking of adding new positions
Here is my weekly Market review video