Stock investors entered the Fourth of July holiday on a high note, pushing the Dow Jones Industrials Index above 17,000 and the Wilshire 5000 Total Market Index above 21,000, and even pushing the S&P 500 to a smidge above the upper trend line of its long-standing bullish ascending channel that has been in place for nearly three years. Read more about Sector Detector: Summer slog likely to keep a lid on further stock gains

Well, it’s official. The old adage about selling in May didn’t apply this year. Instead, larger-cap, higher-quality, and value-oriented stocks continued to lead the market higher. The S&P 500 gained +2.1% during the month and confirmed its tentative technical breakout from the prior Friday with steady progress last week. However, it was tepid at best during the holiday-shortened week, and a somewhat concerning ‘double-low’ confirmation -- i.e., on extremely low (and decreasing) volume and with a backdrop of persistently low volatility. Read more about Sector Detector: Stocks confirm tepid breakout, but on ultra-low volume and volatility

smartindale / Tag: SPY, VIX, EEM, IWM, IYF, iyw, IYJ, IYZ, IYC, IYK, IYH, IDU, IYM, IYE, FTEC, FNCL, FUTY, FSTA, FENY, TDIV, PXE, KBWD, SWKS, OVTI, BCEI, PSX, ZION, FITB / 0 Comments

Market bulls found support at the right time and pulled another rabbit out of their hat. It’s good to have friends in high places, as the Fed’s POMO money continues to flow, including another $6+ billion today for the purchase of Treasuries (which tends to find its way into equities). Last Wednesday, I suggested that the extreme weakness might have been a selling climax, and it turns out that is was – at least for the short term. Read more about Sector Detector: Energy and Materials Help Bulls Put Up a Fight

smartindale / Tag: ETF, IDU, iShares, IYC, IYE, IYF, IYH, IYJ, IYK, IYM, iyw, IYZ, JBL, KRA, KRO, linkedin, long/short, LTXC, OVTI, sector-rotation, sectors / 0 Comments