Smart Investing Today – Your Stock Market Market Digest
Devon Energy’s Operating Netbacks
In 1Q17, Devon Energy’s (DVN) reported operating netback was ~$16.68 per boe (barrel of oil equivalent), which is ~178% higher than in 1Q16.
For oil prices, Saudis are in the driver's seat of a smaller car
Production cuts or not, an uptick in demand or not, US production has permanently altered the axis of energy power globally.
Morgan Stanley: S&P 500 Index Could Touch 2,700 in Next Year
Morgan Stanley’s Mike Wilson said that he’s bullish on the market rally (SPY) (QQQ). He expects that this bull market will continue and stocks will see more upside.
Precious Metals Snapshot
- Gold Spot Price: $1,260.90 per ounce
- Silver Spot Price: $17.33 per ounce
- Platinum Spot Price: $956.70 per ounce
- Palladium Spot Price: $767.40 per ounce
Gold & Silver Spotlight
SPDR Gold Shares (GLD) share price is $119.61, which is 0.8% above its 50-day exponential moving average of $118.70
The RSI is 54.77 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 buying pressure, which is a positive indicator for future bullish 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 0.4% based on the past 12 years of stock performance.
SPDR Gold Shares (GLD) has risen higherby an average 0.4%in 6 of those 12 years over the subsequent 4 week period,corresponding to a historical probability of 50%
SPDR Silver Shares (SLV) share price is $16.28, which is 0.1% below its 50-day exponential moving average of $16.30
The RSI is 51.21 which suggests that SPDR Silver Shares (SLV) is technicallyneither overbought nor oversold.
The current trend is relatively stagnant and SLV is experiencing buying pressure, which is a positive indicator for future bullish movement.
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 0.6% based on the past 11 years of stock performance.
SPDR Silver Shares (SLV) has fallen lowerby an average 0.6%in 6 of those 11 years over the subsequent 4 week period,corresponding to a historical probability of 54%
Trending Stocks On The Move
Puma Biotechnology, Inc. (PBYI) share price is $74.95, which is 34.4% above its 8-day exponential moving average of $55.79
Puma Biotechnology, Inc. (PBYI) share price is $74.95, which is 88.5% above its 50-day exponential moving average of $39.77
According to the MACD, Puma Biotechnology, Inc. (PBYI) is currently on a Buy Signal.
Williams-Sonoma Inc. (WSM) share price is $49.61, which is 6.6% above its 8-day exponential moving average of $46.54
Williams-Sonoma Inc. (WSM) share price is $49.61, which is 178.9% above its 50-day exponential moving average of $17.79
According to the MACD, Williams-Sonoma Inc. (WSM) is currently on a Buy Signal.
Take-Two Interactive Software Inc. (TTWO) share price is $77.73, which is 9.3% above its 8-day exponential moving average of $71.14
Take-Two Interactive Software Inc. (TTWO) share price is $77.73, which is 20.5% above its 50-day exponential moving average of $64.50
According to the MACD, Take-Two Interactive Software Inc. (TTWO) is currently on a Buy Signal.
The VIX figure is 10.02. This is 42.7% below the historic median figure of 17.49.
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 1.3125. This is 48.7% 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 69.3% above the historic median figure of 55.87.
The higher the S&P Earnings are above their median level, the higher the perceived risk in the market.
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