Mid-Week Stock Market Outlook: Bulls Posture Up; Gold Surges!

The S&P 500 rallied by 0.15%; the NASDAQ Composite and Russell 2000 hit 3-month highs.

As well, all four major U.S. stock market indices continue to have strongly bullish Market Forecast intermediate postures, bullish Market Sentiment postures, and “3 Green Arrows” signals.

It gets better: The Dow Jones Industrial Average had a positive 10-40 week moving average crossover (golden cross), which is the first occurrence of that signal since early December.

Elsewhere, Gold (NYSEARCA: GLD) had a massive breakout day and continues to be one of the most sought-after bullish trades of the last 3 months. Gold (GLD) finished higher by over 1.6% and is now trading at 9-month highs.

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Crude oil also finished higher and has a bullish intermediate posture, which helped Master Limited Partnerships close at 3-month highs in today’s session.

10-year U.S. Treasury yields closed lower by 0.71%, which lead to outperformance from the Utilities and Staples sectors today.

Mid-Week Stock Market Video – February 19, 2019

Some additional insights from today’s stock market outlook video:

  • India continues to have a bearish intermediate posture and is struggling versus most other foreign stock markets currently
  • Canada and the United Kingdom are showing some interesting strength as they hit 3-month price highs
  • All eleven major sector ETFs closed with a bullish posture and are trading above rising 30-day moving averages
  • The Sector Selector continues to have Real Estate, Technology, and Utilities in the top 3 ranks
  • Our trade application example featured selling a neutral iron condor on McDonald’s (MCD), which is trading directly in the middle of a sideways price channel over the last 3 months


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.