Smart Investing Today – Your Stock Market Market Digest
Stocks rally, as crude oil pops above $50 a barrel
Stocks (^DJI, ^GSPC, ^IXIC) are edging up in midday trading, with the tech sector (XLK) leading and energy (XLE) leading. Jonathan Corpina of Meridian Equity Partners joins us live from the New York Stock Exchange.
The Dow is about to do something it hasn’t done in 10 years
It’s been another winning quarter for the Dow industrials, and a feat that hasn’t been managed since the fourth quarter of 2006.
Lower for Longer? Dow Drops 40 Points as Brexit Becomes Reality
Stocks finished mixed today as the market digested yesterday’s gains on a day that began with the UK’s formal decision to leave the European Union. The S&P 500 ticked up 0.1% to 2,361.13 today, while the Dow Jones Industrial Average fell 42.18 points, or 0.2%, to 20,659.32. The Nasdaq Composite gained 0.4% to 5,897.55.
Precious Metals Snapshot
- Gold Spot Price: $1,244.10 per ounce
- Silver Spot Price: $18.26 per ounce
- Platinum Spot Price: $945.00 per ounce
- Palladium Spot Price: $801.20 per ounce
Gold & Silver Spotlight
SPDR Gold Shares (GLD) share price is $118.47, which is 1.4% above its 50-day exponential moving average of $116.79
The RSI is 56.36 which suggests that SPDR Gold Shares (GLD) is technicallyneither overbought nor oversold.
The current trend is moderately bullish 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 1.1% based on the past 12 years of stock performance.
SPDR Gold Shares (GLD) has risen higherby an average 1.1%in 7 of those 12 years over the subsequent 4 week period,corresponding to a historical probability of 58%
SPDR Silver Shares (SLV) share price is $17.15, which is 3.1% above its 50-day exponential moving average of $16.63
The RSI is 61.86 which suggests that SPDR Silver Shares (SLV) is technicallyneither overbought nor oversold.
Based on the share price being above its 5, 20 & 50 day exponential moving averages, the current trend is considered strongly bullish and SLV is experiencing selling pressure, which indicates risk of future bearish movement.
According to the MACD, SPDR Silver Shares (SLV) is currently on a Buy Signal.
Over the next 4 weeks, SPDR Silver Shares (SLV) has on average historically risen by 0.9% based on the past 10 years of stock performance.
SPDR Silver Shares (SLV) has risen higherby an average 0.9%in 4 of those 10 years over the subsequent 4 week period,corresponding to a historical probability of 40%
Trending Stocks On The Move
Independent Bank Group, Inc. (IBTX) share price is $64.4, which is 3.8% above its 8-day exponential moving average of $62.03
Independent Bank Group, Inc. (IBTX) share price is $64.4, which is 2.9% above its 50-day exponential moving average of $62.56
According to the MACD, Independent Bank Group, Inc. (IBTX) is currently on a Sell Signal.
EnPro Industries, Inc. (NPO) share price is $69.73, which is 5.5% above its 8-day exponential moving average of $66.08
EnPro Industries, Inc. (NPO) share price is $69.73, which is 6.4% above its 50-day exponential moving average of $65.53
According to the MACD, EnPro Industries, Inc. (NPO) is currently on a Sell Signal.
Independent Bank Corp. (INDB) share price is $66.05, which is 4.8% above its 8-day exponential moving average of $63.00
Independent Bank Corp. (INDB) share price is $66.05, which is 3.2% above its 50-day exponential moving average of $63.99
According to the MACD, Independent Bank Corp. (INDB) is currently on a Sell Signal.
The VIX figure is 11.54. This is 34.2% below the historic median figure of 17.54.
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 1.3023. This is 47.9% 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 69.4% above the historic median figure of 55.84.
The higher the S&P Earnings are above their median level, the higher the perceived risk in the market.
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