This week the SPY, QQQ, and DIA continued to log in all-time highs as market participants were pleased with what they heard out of the Fed and the potential for further rate cuts.
The VXX continued to melt like an ice cube sitting outside in the summer hitting all-time lows.
Looking at VIX futures contract shows an outside bar on the weekly chart with the potential now to go after April’s lows.
As I stated in last week’s video the momentum continues to be to the upside on the SPY, QQQ, and DIA so sellers have the large task of trying to take out the prior week’s lows before we see momentum waning.
Sellers, however, stepped into the long bond and managed to break last week’s outside bar to the downside.
GLD continues to consolidate recent gains and GDXJ sets up for a potentially multi-year move.
In this week’s video, we look at the technical outlook for the VXXB SPY QQQ IWM DIA EEM TSX TLT GLD XAUUSD GDXJ BTCUSD TOTAL UKOIL EEM AAPL AAPL NFLX GOOG KRE BPOP UAL RH ZUO for the week of July 15 – 19, 2019.