Stock Market Outlook: Bullish Intermediate Signals Appear

Brandon Van Zee

The S&P 500 Index rose a quiet 0.03% Tuesday but that was still good enough for new all-time highs.

All major U.S. stock market indices continue to have bullish intermediate postures according to the Market Forecast technical indicator.

The S&P 500, Dow Jones Industrial Average, and NASDAQ Composite all finished with bullish intermediate confirmation signals; although none would be considered ideal set-ups.

The Russell 2000 Index had the biggest move Tuesday and finished higher by 0.46%.

All four major U.S. stock market indices have bullish 10-40 weekly moving average crossover signals and “3 Green Arrows” signals.

Crude Oil has been in a steady uptrend in recent weeks and retains its bullish posture; as a result, high yield bonds have strengthened compared to higher-quality bonds.

Stock Market Video – December 17, 2019

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Real Estate is the only sector that currently has a strongly bearish posture.

Health Care, Industrials, Financials, and Technology continue to lead according to the Sector Selector.

Only Saudi Arabia and Canada have slightly bearish postures currently.

The vast majority of global stock markets are in strong uptrends heading into the end of the decade.

Our trade application example featured selling a bull put spread on Target (TGT), as it is capping off one of its strongest years in history by breaking to new all-time highs in today’s session.

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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.