Three of the four major U.S. stock market indices finished higher today; the exception was the Russell 2000, which finished lower by 0.87%
The S&P 500 finished up by 0.33% and its intermediate posture switched back to bullish
The NASDAQ Composite and the Dow Jones Industrial Average both finished higher today but still retain their bearish intermediate postures
All four major U.S. stock market indices continue to have “3 red arrow” signals.
Health Care stocks lead the market today and have a bullish intermediate posture; they’ve also increased their rank within the Sector Selector tool.
Enjoy the mid-week market outlook – there’s a lot of good stuff in there!
Mid-Week market Video – November 27, 2018
Some additional insights from today’s video:
- The U.S. Dollar was up again today; it has bounced for the past week and touched a 3-month intraday high.
- Gold struggled today as a result of the strong Dollar; crude oil finished barely in the green but remains in a significant multi-week downtrend.
- South African stocks have a bullish posture and are attempting a multi-month reversal bottoming pattern.
- Stocks in Mexico, Canada, and Germany remain in significant downtrends.
- Our trade application example focused on doing a long call vertical spread on Hologic Inc (HOLX), which touched a 3-month high today and has been exhibiting excellent relative strength.
Get market insights, stock trading ideas, and educational instruction over at the Market Scholars website.
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.