Smart Investing Today – Your Stock Market Market Digest
Sector Rotation Could Be the New Theme for the S&P 500
According to the latest Commitment of Traders report, large speculators have increased their net bullish positions in the S&P 500 futures.
AWS 7/3: Holiday Shortened Trading Session
Manufacturing data dominates the news cycle today.
Stocks Are in For a Wild Ride in July
As volatility increases, the stock market is vulnerable to more downside.
Precious Metals Snapshot
- Gold Spot Price: $1,222.70 per ounce
- Silver Spot Price: $16.03 per ounce
- Platinum Spot Price: $906.70 per ounce
- Palladium Spot Price: $850.50 per ounce
Gold & Silver Spotlight
SPDR Gold Shares (GLD) share price is $116.09, which is 2.7% below its 50-day exponential moving average of $119.28
The RSI is 31.46 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 selling pressure, which indicates risk of future bearish movement.
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 0.9% based on the past 12 years of stock performance.
SPDR Gold Shares (GLD) has risen higherby an average 0.9%in 9 of those 12 years over the subsequent 4 week period,corresponding to a historical probability of 75%
SPDR Silver Shares (SLV) share price is $15.3, which is 4.8% below its 50-day exponential moving average of $16.07
The RSI is 41.97 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 2% based on the past 11 years of stock performance.
SPDR Silver Shares (SLV) has risen higherby an average 2%in 7 of those 11 years over the subsequent 4 week period,corresponding to a historical probability of 63%
Trending Stocks On The Move
Xperi (XPER) share price is $32.5, which is 5.7% above its 8-day exponential moving average of $30.76
Xperi (XPER) share price is $32.5, which is 2.6% above its 50-day exponential moving average of $31.66
According to the MACD, Xperi (XPER) is currently on a Sell Signal.
Chart Industries Inc. (GTLS) share price is $37.65, which is 8.6% above its 8-day exponential moving average of $34.66
Chart Industries Inc. (GTLS) share price is $37.65, which is 32% above its 50-day exponential moving average of $28.52
According to the MACD, Chart Industries Inc. (GTLS) is currently on a Buy Signal.
Baker Hughes (BHI) share price is $57.68, which is 4.9% above its 8-day exponential moving average of $54.98
Baker Hughes (BHI) share price is $57.68, which is 2.8% above its 50-day exponential moving average of $56.11
According to the MACD, Baker Hughes (BHI) is currently on a Sell Signal.
The VIX figure is 11.22. This is 35.7% 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
The ratio of the Total Market Capitalization (Wilshire 5000) to United States GDP is 1.3351. This is 50.9% 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 68.5% above the historic median figure of 56.14.
The higher the S&P Earnings are above their median level, the higher the perceived risk in the market.
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