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Index Glance

This is a syndicated repost courtesy of Slope of Hope – Technical Tools for Traders. To view original, click here. Reposted with permission.

Low-volume, daily-lifetime-highs summer trading continues. Let’s take a quick look at a few key items.

Now The Balance Begins To Shift

The balance between QE and Treasury supply will begin to shift in July. The underlying bid it has provided for stocks and Treasuries will begin to fade.

This report tells why, and what to look for in the data and the markets.  GO TO THE POST

The Dow Jones Composite is hugging its trendline and still beneath its price gap. This is a big fat “meh” – – basically there hasn’t been a net change in weeks.

The gold bugs might be ready to rally again. It got smacked hard, but notice how the trendline (which is now support) was successfully tested.

One of the few indexes which looks plausibly at-risk is the semiconductor group, although broadly speaking it is still widely range-bound.

And the only straight-up, I-am-happy-to-be-short sector is oil (sorry, TNRev!) which has repeatedly threatened and challenged its own trendline but is still safely beneath it. I would suggest XLE if you want to play this one.

Wall Street Examiner Disclosure: Lee Adler, The Wall Street Examiner reposts third party content with the permission of the publisher. The opinions expressed in these reposts are not those of the Wall Street Examiner or Lee Adler, unless authored by me, under my byline. I curate posts here on the basis of whether they represent an interesting and logical point of view, that may or may not agree with my own views. Some of the content includes the original publisher's promotional messages. No endorsement of such content is either expressed or implied by posting the content. All items published here are matters of information and opinion, and are neither intended as, nor should you construe it as, individual investment advice. Do your own due diligence when considering the offerings of information providers, or considering any investment.

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