Stock Market Indicators Remain In Bulls Favor

The S&P 500 Index reached an intraday all-time higher on Tuesday before closing lower by -0.15%. The NASDAQ Composite and Dow Jones Industrial Average both fell -0.07%.

All four major U.S. stock market indices currently have strongly bullish intermediate postures and are trading above rising 30 day moving averages.

The Russell 2000 has a bullish intermediate confirmation signal, while the NASDAQ Composite and S&P 500 currently have “3 Green Arrows” signals. As well, all four major U.S. equity indices have bullish crossovers on the 10/40 weekly moving average system.

Three new stocks were added to the S&P 500 Dividend Aristocrat list over the weekend (IBM, NEE, and WST).

Elsewhere, Bitcoin, 10-year Treasury Yields, and Preferred Stocks all have weakly bearish intermediate postures… but all 3 continue to trade above rising 30 day moving averages.

The U.S. Dollar continues to have a strongly bearish intermediate posture, which has helped foreign stocks and commodities (gold & oil) to achieve bullish postures.

The Energy Sector (XLE) is now positioned directly on top of its 30 day moving average, which could end up being a support area.

Our trade application example featured a bullish swing trade on TechnipFMC plc (FTI) as a bounce set-up off of an important moving average; it was one of just a handful of Energy stocks up today when the sector itself was lower.

Get market insights, stock trading ideas, and educational instruction over at the Market Scholars website.

Stock Market Video – News, Analysis & Insights for January 27

Twitter:  @BrandonVanZee and @Market_Scholars 

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.

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