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.
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.