Our weekend version of our market outlook covers a busy week of market action and analysis for traders.
Below is a summary of what’s in the video. Please feel free to comment or hit us up with any questions.
– Recap of current market posture across the four major U.S. equity indices.
– Bullish intermediate postures retained on the Market Forecast indicator for S&P 500 (INDEXCBOE: .INX), Dow Jones Industrial Average (INDEXDJX: .DJI) and NASDAQ Composite (INDEXNASDAQ: .IXIC).
– Bearish intermediate posture on the Russell 2000.
– U.S. GDP is strong and at the highest level in several years.
– Earnings were a big factor with Amazon (AMZN), Intel (INTC), and Twitter (TWTR) reporting.
– Value is starting to perk up versus growth in the ratio charts.
– Sector Thoughts: Recent strength in the Financials sector (XLF) is likely due to a bounce in interest rates. Consumer Staples (XLP) continue their slow and steady march higher
– Today’s trade idea references an article I wrote right here for See It Market earlier in the week and circles back to Hershey’s (HSY) to see if there’s an opportunity to sell a put after today’s pullback.
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.
