Stock Market Outlook: Bulls Continue Grind Higher

Brandon Van Zee

The Dow Jones Industrial Average and NASDAQ Composite also registered all-time highs; meanwhile, the Russell 2000 managed to hit a fresh 52-week high.

The S&P 500 Index rose 0.22% and closed at an all-time record high; it continues to have a strongly bullish intermediate posture according to the Market Forecast technical indicator.

All four major U.S. stock market indices continue to have strongly bullish intermediate postures.

The Russell 2000 Index is the only major index to sport a “3 Green Arrows” signal.

All four major U.S. stock market indices have bullish 10-40 weekly moving average crossover signals.

10 Year U.S. Treasury yields fell again and ended at 1.74% today; REITs rallied over 1% in response.

Oil has a bullish posture with an upward sloping 30-day moving average.

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Stock Market Video – November 27, 2019

Developed foreign markets seem to be outperforming emerging foreign markets.

Japan, Taiwan, and Germany are leading countries in this current rally; Brazil, Mexico and Indonesia are lagging.

Most U.S. sectors are looking healthy; only Materials and Real Estate currently have bearish intermediate postures.

Technology usurped Industrials and Financials to take over the top ranking on the most recent Sector Selector.

Our trade application example featured selling a put on Cracker Barrel (CBRL) after today’s sell-off sent the stock to an area that has been historically attractive from a dividend yield perspective.

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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.

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