Winner In A Crazy Week, Gold Trade, And Other Top Articles

An Insurance ETF Sets Up Nicely, And A Sign That Could Make Trading Easier͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ [Finding A Potential Winner In a Crazy Week]( The rotation out of tech started last week, and it appears to be a continuing theme for the market in the short-term. Earnings may drive some of the short-term sector decisions, but ultimately, there are long-term themes being priced into the market based upon election projections and other fundamental inputs that are likely to determine the major sector-based money-flow. [...Read More]( --------------------------------------------------------------- [Bull Market Broadens: What New Highs Offer You]( This past week investors saw the markets build on strength from the prior week. All three major market indices posted new all-time highs with the Dow closing above 40K for the first time ever. While the headline S&P 500 index had a strong week as it made numerous new highs, the story was really more about the Equal Weighted S&P 500 index which finished the week up 2.9% and approaching its all-time high. Additionally, the Russell 2000 posted a strong performance as the small call index rose 6.11% on the week. Last week’s bullish expansion was fueled by a cooler than expected CPI inflation report combined with quite dovish commentary from Fed Chair Powell, which the markets interpreted as him setting the foundation for the soon-to-begin rate cutting cycle. This growing confidence that the first cut will likely be occurring soon led investors to take profits in some stocks that have been the top winners in the market this year and redeploy this cash into stocks that will benefit in an environment where rates are coming down. Now, our top market-leading stocks from this year still had a strong week as overall many of them still finished the week higher, but this rotation and redeploying of profits into other sectors, which have lagged, is what caused the Equal Weight S&P 500 & Russell 2000 to outperform last week. In conjunction with the market rotation we witnessed last week, the bull market in general also displayed some broadening out as well. Looking at the NYSE Advance Decline Index, this index scorched higher, making news highs. Additionally, now roughly 72% of S&P 500 stocks are trading above their 200-Day moving average, signaling a longer term uptrend. Each of these benchmarks are indicators of strong breadth across the market. Since more than two-thirds of S&P 500 stocks are in long-term uptrends, the health of this bull market is strong. Now, at these levels, we are not quite yet at short-term overbought status for the S&P 500, however, we are approaching it. If the percentage of S&P 500 stocks trading above their 50-Day moving average moves into the mid 70’s, this would be a point where we expect the market to look to take a breather. Furthermore, the S&P 500 has climbed in 5 of the last 6 weeks, so if we post another gain this week, we expect for the index to likely cool down for a week or two. [...Read More]( --------------------------------------------------------------- [Chart of the Day: Barrick Gold (GOLD)]( If you’re looking for some of the best stocks to buy now, check out gold. After testing an all-time high of $2,480.75, the metal could easily test $2,500, even $3,000 this year. All on hopes the Federal Reserve will cut interest rates this year thanks to growing confidence that inflation is headed back to its 2% target. [...Read More]( --------------------------------------------------------------- [Insurance ETF Climbs Amid Market Slump]( Yesterday, we looked at a Daily Price Chart for [Amgen Inc.](, noting that AMGN’s 24/52 Day MACD is trading above the 18-Day EMA signaling a ‘Buy’. For today’s Trade of the Day e-letter we will be looking at a daily price chart for SPDR S&P Insurance ETF, symbol: KIE. [...Read More]( --------------------------------------------------------------- [This Could Make Things Easier To Trade]( The chart from Thursday updated attached. As you can see we barely managed to hang on to support in the Nasdaq. Still I think it should bounce from here. I make the odds we get an earning explosion to the upside that takes us to new all time highs as about 1 in 3. So that means 2 in 3 that after any bounce here, we make further new lows as July unfolds. The best news is the market is finally getting some mean revision. This means if it starts behaving as it has most of the time over decades, it’s a whole lot easier to trade. Right now looking for a bounce before another leg lower. [...Read More]( --------------------------------------------------------------- [Netflix, Inc. (NFLX), Trending Stock Report]( There are two things topping news headlines and social media this morning. The first is related to a massive IT outage and the second is Netflix, Inc. (NFLX) earnings. We’ve had a lot of success recently with high-probability trades and NFLX looks to be the more predictable target for another high-probability trade this morning. [...Read More]( --------------------------------------------------------------- --------------------------------------------------------------- [TradeWins Logo]( © 2024 Tradewins Publishing. 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