Our mid-week market outlook video has got you covered with lots of market insights and interesting trade setups. Notably, the S&P 500 and Russell 2000 hit all-time highs today!
Below is a summary of of the video. Please feel free to comment or hit us up with any questions.
– Sellers appeared on an intraday basis on the S&P 500 but buyers were fully in control of the Russell 2000 through the close of today’s session.
– This bull market is on the eve of becoming the longest bull market in history.
– Of the four major U.S. equity indices, the NASDAQ Composite appears to be the laggard
– The Sector Selector tool suggests strength in the Consumer Discretionary sector and relative weakness in the Technology sector.
– The U.S. Dollar has been down over the last week but is now at a critical juncture as it sits on a rising 30 day moving average, which it has bounced off of several times in the past.
– Somewhat suspiciously, the VIX closed higher on the session despite the stock market having a bullish session.
– Despite a strong economy and stock market, U.S. Treasury Yields have been falling in August, which has supported buying activity within interest rate sensitive areas like REITs and Utilities.
– The trade application example highlighted in today’s video featured selling a bull put spread on Kohl’s (KSS), which just reported earnings today and closed near the highs of the session.
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