The S&P 500 Index INDEXSP: .INX is pointing lower for Monday as volatility continues to roil the financial markets.
The uptick on the Volatility Index INDEXCBOE: VIX has helped Gold NYSEARCA: GLD climb to multi-year highs. This underscores the quick rise in uncertainty. That said, Gold is very overbought.
In today’s video, we also discuss the technical setups across the major stock market indices and touch on sectors and stocks that are leading / lagging. Here’s a recap:
The S&P 500 is testing resistance at the 50-day moving average.
Gold is now extremely overbought in its uptrend.
Utilities are beginning to outperform once again.
Stock Market Today Video – August 12, 2019
Twitter: @DanRusso_CMT
Author may have a position in mentioned securities at the time of publication. 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.
