Smart Investing Today – Your Stock Market Market Digest
Topping Out? Dow Dips 30 Points as Market Inspects the Damage
The S&P 500 is little changed at 2,343.54 at 9:43 a.m. today, while the Dow Jones Industrial Average has fallen 29.33 points, or 0.1%, to 20,638.68. The Nasdaq Composite has advanced 0.2% to 5,803.83. BofA Merill Lynch’s Hans Mikkelsen and team write that “equities blinked.” He explains: One of the big questions this year has been whether equity market euphoria or bond market skepticism reflected the correct read on US policy risks with the new administration.
Brexit: Still a Thing
The U.K. will officially begin the decoupling process from the Eurozone on March 29.
Gross on Rising US Credit Level: Lehman Brothers, Anyone?
The rising credit level is a warning sign for the economy, and Gross believes this situation may trigger a crisis like the 2008 global debt crisis.
Precious Metals Snapshot
- Gold Spot Price: $1,255.20 per ounce
- Silver Spot Price: $17.76 per ounce
- Platinum Spot Price: $972.40 per ounce
- Palladium Spot Price: $805.50 per ounce
Gold & Silver Spotlight
SPDR Gold Shares (GLD) share price is $118.83, which is 2.3% above its 50-day exponential moving average of $116.19
The RSI is 63.02 which suggests that SPDR Gold Shares (GLD) 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 GLD is experiencing slight selling 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 fallen by 0.6% based on the past 12 years of stock performance.
SPDR Gold Shares (GLD) has fallen lowerby an average 0.6%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 $16.62, which is 0.6% above its 50-day exponential moving average of $16.52
The RSI is 51.30 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 slight buying 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 fallen by 0% based on the past 10 years of stock performance.
SPDR Silver Shares (SLV) has fallen lowerby an average 0%in 4 of those 10 years over the subsequent 4 week period,corresponding to a historical probability of 40%
Trending Stocks On The Move
APPLIED OPTOELECTRONICS (AAOI) share price is $52.63, which is 5.1% above its 8-day exponential moving average of $50.09
APPLIED OPTOELECTRONICS (AAOI) share price is $52.63, which is 28.4% above its 50-day exponential moving average of $40.99
According to the MACD, APPLIED OPTOELECTRONICS (AAOI) is currently on a Buy Signal.
Red Robin Gourmet Burgers Inc. (RRGB) share price is $53.7, which is 2.7% above its 8-day exponential moving average of $52.29
Red Robin Gourmet Burgers Inc. (RRGB) share price is $53.7, which is 6.7% above its 50-day exponential moving average of $50.34
According to the MACD, Red Robin Gourmet Burgers Inc. (RRGB) is currently on a Buy Signal.
Restoration Hardware Holdings, Inc. (RH) share price is $37.08, which is 4.9% above its 8-day exponential moving average of $35.36
Restoration Hardware Holdings, Inc. (RH) share price is $37.08, which is 18.1% above its 50-day exponential moving average of $31.39
According to the MACD, Restoration Hardware Holdings, Inc. (RH) is currently on a Buy Signal.
The VIX figure is 12.81. This is 27% 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
The ratio of the Total Market Capitalization (Wilshire 5000) to United States GDP is 1.2912. This is 46.8% 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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