Smart Investing Today – Your Stock Market Market Digest
ConocoPhillips Stock Is Outperforming Crude Oil Prices
For the week ending June 23, crude oil (USO) prices continued their weekly declining trend. Crude oil prices fell from $44.97 per barrel to $43.01 per barrel.
How selloffs in tech and energy stocks could 'reset' US markets
If large cap tech experiences continued challenges in regards to its upward momentum, look for a reset in US equity prices that may well shave as much as 5% off index levels.
Nasdaq futures fall as Google leads big tech lower
Nasdaq futures pulled back about half a percent Tuesday after Google was hit with a record fine of $2.7 billion by European Union regulators.
Precious Metals Snapshot
- Gold Spot Price: $1,252.00 per ounce
- Silver Spot Price: $16.75 per ounce
- Platinum Spot Price: $922.30 per ounce
- Palladium Spot Price: $873.00 per ounce
Gold & Silver Spotlight
SPDR Gold Shares (GLD) share price is $118.36, which is 1% below its 50-day exponential moving average of $119.57
The RSI is 41.87 which suggests that SPDR Gold Shares (GLD) is technicallyneither overbought nor oversold.
Based on the share price being below its 5, 20 & 50 day exponential moving averages, the current trend is considered strongly bearish and GLD is experiencing slight buying pressure.
According to the MACD, SPDR Gold Shares (GLD) is currently on a Sell Signal.
Over the next 4 weeks, SPDR Gold Shares (GLD) has on average historically risen by 1.4% based on the past 12 years of stock performance.
SPDR Gold Shares (GLD) has risen higherby an average 1.4%in 8 of those 12 years over the subsequent 4 week period,corresponding to a historical probability of 66%
SPDR Silver Shares (SLV) share price is $15.68, which is 3% below its 50-day exponential moving average of $16.16
The RSI is 42.03 which suggests that SPDR Silver Shares (SLV) is technicallyneither overbought nor oversold.
Based on the share price being below its 5, 20 & 50 day exponential moving averages, the current trend is considered strongly bearish and SLV is experiencing slight selling pressure.
According to the MACD, SPDR Silver Shares (SLV) is currently on a Sell Signal.
Over the next 4 weeks, SPDR Silver Shares (SLV) has on average historically risen by 1.9% based on the past 11 years of stock performance.
SPDR Silver Shares (SLV) has risen higherby an average 1.9%in 8 of those 11 years over the subsequent 4 week period,corresponding to a historical probability of 72%
Trending Stocks On The Move
The Hain Celestial Group, Inc. (HAIN) share price is $33.63, which is 1% above its 8-day exponential moving average of $33.31
The Hain Celestial Group, Inc. (HAIN) share price is $33.63, which is 23.3% above its 50-day exponential moving average of $27.28
According to the MACD, The Hain Celestial Group, Inc. (HAIN) is currently on a Buy Signal.
Ingles Markets Inc. (IMKTA) share price is $33.75, which is 1.3% above its 8-day exponential moving average of $33.30
Ingles Markets Inc. (IMKTA) share price is $33.75, which is 24% above its 50-day exponential moving average of $27.22
According to the MACD, Ingles Markets Inc. (IMKTA) is currently on a Buy Signal.
Group 1 Automotive Inc. (GPI) share price is $60.56, which is 1.8% above its 8-day exponential moving average of $59.48
Group 1 Automotive Inc. (GPI) share price is $60.56, which is 27% above its 50-day exponential moving average of $47.67
According to the MACD, Group 1 Automotive Inc. (GPI) is currently on a Buy Signal.
The VIX figure is 9.90. This is 43.3% below the historic median figure of 17.45.
The CBOE Volatility Index® (VIX®) is a key measure of market expectations of near-term volatility conveyed by S&P 500 stock index option prices. Historically, VIX levels above 50 correlate closely with periods of stock market panic while VIX levels below 20 are more typical during relatively calm periods in the market.
The 10,000 Foot Economic View
Total Market Cap / GDP
Chart for Total Market Cap / GDP
The ratio of the Total Market Capitalization (Wilshire 5000) to United States GDP is 1.3324. This is 50.7% above the historic median figure of 0.88.
The higher the Market Cap/GDP figure is relative to its median level, the higher the perceived risk in the market. Markets can remain overvalued for extended time periods.
The S&P Earnings is 94.59. This is 68.9% above the historic median figure of 56.01.
The higher the S&P Earnings are above their median level, the higher the perceived risk in the market.
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