Our mid-week market outlook video has got you covered. Lots of action and interesting trade setups.
Below is a summary of today’s video. Please feel free to comment or hit us up with any questions:
– Elon Musk’s proposal to take Tesla (NASDAQ: TSLA) private electrified the broad markets.
– The S&P 500 (NYSEARCA: SPY) and Dow Jones Industrial Average (NYSEARCA: DIA) both hit multi-month highs.
– All four major U.S. equity indices have a bullish intermediate posture according to the Market Forecast indicator.
– Ratio charts suggest U.S. stocks are still preferable to bonds and commodities.
– Ratio charts highlight the de-risking within the U.S. equity markets as traders have pushed Consumer Staples higher on a relative basis versus Consumer Discretionary
– With Consumer Staples stocks dropping on Tuesday, it sets up a possibility of “buy the dip”.
– Philip Morris (NYSE: PM) is a stock that has curled higher in recent months, but not with as much momentum as other Consumer Staples stocks, which might be a result of the impact of the resilient U.S. Dollar on PM’s international revenues.
– Today’s put-selling trade application example highlights where Philip Morris currently sits from a short-term perspective and also looks at its levels from a longer-term perspective that might be considered attractive for Dividend Growth Investing.
Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.