Vacation Notice
It is time for a little vacation in July and the publishing schedule will be as follows:
- Vacation from July 5th to July 8th (Monday to Thursday)
- Short Updates on July 9th and 10th (Friday/Saturday)
- Vacation from July 12th to 17th (Monday to Saturday)
- Normal Schedule Resumes on Thursday, July 22nd
Think I will reread Reminiscences of a Stock Operator and Trading in the Zone, which are two of the twelve books on my reading list.
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Stocks finished on a high note yet again with large-caps leading the way as SPY and QQQ hit new highs. IWM was down, but remains with a triangle breakout. The yield curves narrowed even further in late June and this was accompanied by new highs in oil. Short-term breadth is dragging, but long-term breadth remains strong with over 90% of S&P 500 stocks above their 200-day SMAs. Tech, Communication Services, Healthcare and Consumer Discretionary are the leading sectors. Banks continue to drag their feet and weigh on small-cap performance.
Broad Market Notes
- Large-caps Surge as Small-caps Stumble
- QQQ Leads Market Since mid May
- Composite Breadth Model Remains Bullish
- Yield Spreads hit New Lows (again)
- Bonds Continue Higher (Yields Lower)
- Oil Hits Another New High
- Gold Firms as Silver Breaks Short-term Resistance
- Dollar Holds above 200-day
ETF Highlights
- Small-caps Remain a Mess
- Micro-cap ETF Tests Breakout Zone
- XLK, XLY, XLC, XLV Lead with New Highs
- Software, Internet, Cloud and Cyber are Strong and Extended
- Semiconductor ETF Breaks Out
- Mobile Payments ETF Holds Upswing
- Home Construction ETF Extends on Wedge Breakout
- Bank ETFs Drift Lower
- Clean Energy ETFs Get Pennant Breakouts
- Healthcare Providers ETF Breaks Flag
- Oil & Gas Equipment & Services ETF Forms Flag
- Oversold Conditions for Copper, Steel and Uranium ETFs
Timber and Agribusiness ETFs Go for Bounce - A Pattern within a Pattern for Sports Betting iGaming ETF
- PHO Breaks out as IYZ Forms Similar Triangle