The S&P 500 Index finished higher for the fourth straight session and closed higher by 0.36%; it achieved another all-time closing and intraday high.
The NASDAQ Composite was today’s leader (+0.76%) and established another record high as well.
The Dow Jones Industrial Average was today’s laggard, closing lower by -0.20%; this was its first day of trading since announcing 3 major constituent changes.
All four major U.S. stock market indices have strongly bullish Market Forecast intermediate postures; the Russell 2000 is the most at risk of losing this posture.
The NASDAQ Composite and the S&P 500 now have “3 Green Arrows” signals.
All four major U.S. stock market indices have golden crosses on the 10/40 weekly moving average crossover method.
Technology advanced its ranking on the Sector Selector for the second straight week; Energy is back in the last place position.
Stock Market Outlook Video (August 25)
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The Energy Sector was today’s worst performer (-1.40%) and has a strongly bearish intermediate posture; Utilities and Real Estate have weakly bearish intermediate postures.
Communications led the markets today with a 0.94% advance; their chart (along with Technology and Discretionary) looks incredibly strong.
Long Term U.S. Treasuries have a strongly bearish intermediate posture; meanwhile, junk bonds have been bullish and suggests risk appetite is strong.
The U.S. Dollar now has a weakly bullish posture and gold has a weakly bearish posture, but both charts are at potential reversal points near moving averages.
Crude Oil has a strongly bullish posture and has been trending nicely higher.
Emerging markets may have benefited from positive China/U.S. trade talks today; they were up over 1% today and are up 21% in 3 months.
Our trade application example featured selling a put on Shift4 Payments Inc (FOUR) due to its breakout to all-time highs today and strongly bullish intermediate posture.
Twitter: @BrandonVanZee and @Market_Scholars
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.
