Here are my most recent overall thoughts:We are exercising caution as the growth stocks and SPY are in warning phases, well below their July calendar ranges, and with momentum showing some mean reversion but not enough momentum to get me to put clients in new positionsCould that change?Yes, but I’d rather wait for that to change and meanwhile consider the relative strength in the metal miners and oil right now.Also, long bonds TLT are signaling trouble ahead with risk off.As the market finds some footing we see rotation back into growth stocks.While the market sorts out the true value of equities going forward considering these variables
We are focused on commodities for investors looking to enter low risk, high return potential right now.And to hear more about all of this and more…It’s a bit of a rough cut, but our dear friend and former anchor of the Daily Briefing on Real Vision, the amazing Maggie Lake, sat with me for a wonderful discussion.We cover
ETF SummaryS&P 500 (SPY) 540 cleared which makes this level pivotalRussell 2000 (IWM) 210 resistance 199 supportDow (DIA) 400 back to near resistanceNasdaq (QQQ) 475 area resistanceRegional banks (KRE) 50-52 supportSemiconductors (SMH) 240 resistanceTransportation (IYT) Eyes here to see if it can clear back over the 50-WMABiotechnology (IBB) 141 now supportRetail (XRT) 73.50 now super pivotal-strong above weak belowiShares iBoxx Hi Yd Cor Bond ETF (HYG) Back to risk on over 78.00More By This Author:ETFs Where Are They Now?
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Investors Should Watch High Yield Debt Right Now
