It was a consolidation day for most of the indices, except $IWM.
I’d still like to see $SPY pull back to 423, but time will tell.
Expert technical analysis of financial markets by JC Parets
by David
From the Desk of Kimmy Sokoloff
It was a consolidation day for most of the indices, except $IWM.
I’d still like to see $SPY pull back to 423, but time will tell.
As the bull market in stocks continues, the lifeblood to keep the ball rolling is sector rotation.
We’re already seeing some of the big caps that have driven the first leg of this run start exhibiting signs of overexertion (check out $GOOG today).
It makes sense to us that stocks further down the cap scale are going to start asserting themselves and perhaps in some cases play “catch up” to their big brothers.
Today’s trade is in a cyclical name in the Logistics space. [Read more…]
by David
From the Desk of Kimmy Sokoloff
The indices are kind of flat this morning.
Yesterday there was a lot of movement in names, names that haven’t moved in quite some time.
by Ian Culley
From the Desk of Ian Culley @IanCulley
Petrocurrencies and crude oil futures are diverging.
The currencies that benefit most from higher oil prices refuse to roll with crude’s steady decline.
Perhaps it’s more about the US dollar than a handful of currencies tied to oil’s supply and demand dynamic.
But with OPEC up to its old tricks again – Saudi Arabia announced deeper production cuts last weekend – the question arises…
by David
From the Desk of Kimmy Sokoloff
$IWM led the pack today, up almost 3%.
Banks started to rally as well.
Time will tell if this continues.
by David
From the Desk of Kimmy Sokoloff
We just about hit the 4,300 mark on the S&P 500.
A healthy pull-in here would be optimal.
by JC
This is the video recording of our June 5th Monthly Charts Live Strategy Session
by Ian Culley
From the Desk of Ian Culley @IanCulley
What will it take for gold to make new all-time highs?
A weaker US dollar and falling real yields are likely candidates for leading catalysts.
We can also add a significant unwind in commercial positioning to the list.
Meanwhile, it’s a range-bound mess.
Let’s stick to the basics. Uptrends – at the core – come down to more buyers than sellers. And risk-on/risk-off intermarket ratios provide excellent tools for tracking whether bulls or bears dominate a particular market.
After the recent bout of selling pressure, one precious metal risk ratio is approaching a potential inflection point…