The S&P 500 Index fell 0.27% Tuesday as we started a holiday-shortened week. Investor sentiment was negatively impacted by China’s coronavirus.
All major U.S. stock market indices have bullish intermediate confirmation signals, but none of the signals are ideal set-ups.
All major U.S. stock market indices have “3 Green Arrows” signals.
The NASDAQ Composite hit another all-time high on an intraday basis before selling off towards the end of the day.
Defensive sectors like Utilities, Staples, Health Care and Real Estate were today’s leaders.
Energy, Industrials, Materials and Consumer Discretionary struggled on this “risk-off” day.
Stock Market Video – January 22
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Rotation into the interest rate sensitive sectors has been quietly taking place for the last few weeks.
The move lower in interest rates have led to multi-month highs in Real Estate.
Emerging markets, travel stocks, casinos, and airlines all struggled today.
Our trade application example featured selling an iron condor on FedEx (FDX) due to its sideways price behavior over the last several months.
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