The S&P 500 (NYSEARCA:SPY) was flat Friday but its intermediate term posture turned weakly bearish. And small cap stocks aren’t helping the market, as the Russell 2000 (NYSEARCA:IWM) is showing a strongly bearish posture.
Meanwhile, the NASDAQ (NASDAQ:QQQ) and Dow Jones Industrial Average (NYSEARCA:DIA) both retain bullish intermediate postures. Most U.S. stock market indices just completed their best quarter in 5 years. As well, the 10 week moving averages remained above 40 week moving averages on all 4 major U.S. equity indices.
Some additional bullets from this week’s Weekend Market Outlook video:
– Â Tesla and Facebook pressured the high-growth segments of the market based off of controversial news stories in the last 24 hours.
– Â The U.S. Dollar, crude oil, and REITs were strong today.
– Â India, China, Germany, and Australia have struggled in recent days.
–  Utilities and Real Estate sectors bounced again Friday after oversold cluster signals earlier this week. Technology, Discretionary, Energy, Communication Services, and Health Care are the leading sectors from an intermediate time perspective.
– Â The Sector Selector shows longer term strength in the Industrials sector and current weakness in the Financials sector.
–  Today’s trade application focused on selling an at-the-money put on Dividend Aristocrat stock Franklin Resources (BEN) after noticing it is now has a historically attractive 3% yield after a sell-off this week
Get market insights, stock trading ideas, and educational instruction over at the Market Scholars website.
Twitter:  @BrandonVanZee and @Market_ScholarsÂ
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.
