Weekly Perspectives

Announcement

The next Meetup is scheduled for this coming Tuesday, July 14 from 7-10pm.

Agenda

  • 7h00 – Meet and Greet
  • 7h30 – The 6 Keys to Creating Peak Trading Performance
  • 8h15 – Why Trading is like Running a Business and 4 Things You Should Do
  • 8h45 – Share a Trade (Setup and Trade Management)
  • 9h30 – Open Discussion

Look forward to seeing you all there!

RSVP now.

 

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Weekly Commentary

 

This week we saw major market indices gap down on Monday only to see the buyers step back in.  On Tuesday sellers stepped in but we saw some very big buyers come in as prices approached the 50 period weekly MA and defending those levels.

At the end of the week after all the jostling back and forth the Dow and S&P500 indices closed out the weekly at roughly last Friday’s levels.

One thing to note is that the VIX (the Volatility index) has popped up.  Prior to this week we had seen the VIX trading around 17.  This week the VIX popped into the 20’s and we’re now seeing a set of higher highs.  Open question remains – is volatility is here to stay?

 

Inline image 3

 

As mentioned last week, on the SPY we have an unfilled gap down at 201.92 which would be a natural place for price to gravitate.  I still see the possibility of a pullback to the upside (to fill our most recent gap @ 209.82) followed by renewed selling down to 201.92.

 

Inline image 2

Here’s an update on our sector rotation watch.

 

This week we saw a run up in Consumer Staples which may indicate a move to safety for some investors.

Utilities continues to look strong for a second week breaking its recent downtrend.  Can we expect continued low interest rates?

Consumer Discretionary and Healthcare also looking strong for the week.

We are now seeing the Builders, Energy, Industrials trending downwards – which may be signalling investors are piling out of growth areas.

The major sectors are posted here on Finviz for your viewing pleasure –

http://finviz.com/screener.ashx?v=211&ft=4&t=XLF,XLY,XLK,XLB,XLI,XLE,XLU,XLV,XLP

 

Happy Trading!

 

Weekly Perspectives

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