Smart Investing Today – Your Stock Market Market Digest
Tech investors letting more air out of an inflated trade
Without question, the two most significant themes that have driven market direction over the past two weeks have been the bi-annual OPEC meeting (and subsequent selloff in crude) and the massive reversal lower late last week on the part of large-cap tech and software verticals. In the case of crude oil, and by proxy the energy sector (XLE), investors would love to gain some insight into the trade from these relatively depressed levels. Clearly OPEC and non-OPEC members are wrestling with oversupply in the market, despite recently agreed to and extended production restraints.
Brexit in Question Following Hung Parliament?
The Tory party failed to win a full majority of seats; this opens up far more possibilities for the U.K. government going forward.
How VMware Aims to Move ahead in the Hybrid Cloud Space
Last week, to scale up further in the hybrid cloud space, VMware (VMW) introduced significant updates across its VMware vRealize platform.
Precious Metals Snapshot
- Gold Spot Price: $1,265.90 per ounce
- Silver Spot Price: $16.91 per ounce
- Platinum Spot Price: $941.70 per ounce
- Palladium Spot Price: $876.70 per ounce
Gold & Silver Spotlight
SPDR Gold Shares (GLD) share price is $120.36, which is 200.9% above its 50-day exponential moving average of $40.00
The RSI is 50.99 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 selling pressure, which indicates risk of future bearish movement.
According to the MACD, SPDR Gold Shares (GLD) is currently on a Buy Signal.
Over the next 4 weeks, SPDR Gold Shares (GLD) has on average historically fallen by 0.7% based on the past 12 years of stock performance.
SPDR Gold Shares (GLD) has fallen lowerby an average 0.7%in 3 of those 12 years over the subsequent 4 week period,corresponding to a historical probability of 25%
SPDR Silver Shares (SLV) share price is $16.04, which is 195.6% above its 50-day exponential moving average of $5.43
The RSI is 48.72 which suggests that SPDR Silver Shares (SLV) is technicallyneither overbought nor oversold.
The current trend is moderately 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 fallen by 1.6% based on the past 11 years of stock performance.
SPDR Silver Shares (SLV) has fallen lowerby an average 1.6%in 3 of those 11 years over the subsequent 4 week period,corresponding to a historical probability of 27%
Trending Stocks On The Move
Mazor Robotics Ltd. (MZOR) share price is $33.76, which is 3.6% above its 8-day exponential moving average of $32.59
Mazor Robotics Ltd. (MZOR) share price is $33.76, which is 174.5% above its 50-day exponential moving average of $12.30
According to the MACD, Mazor Robotics Ltd. (MZOR) is currently on a Buy Signal.
Loxo Oncology, Inc. (LOXO) share price is $76.45, which is 19.8% above its 8-day exponential moving average of $63.81
Loxo Oncology, Inc. (LOXO) share price is $76.45, which is 264.4% above its 50-day exponential moving average of $20.98
According to the MACD, Loxo Oncology, Inc. (LOXO) is currently on a Buy Signal.
Spark Energy, Inc. (SPKE) share price is $44.25, which is 11.5% above its 8-day exponential moving average of $39.68
Spark Energy, Inc. (SPKE) share price is $44.25, which is 209.4% above its 50-day exponential moving average of $14.30
According to the MACD, Spark Energy, Inc. (SPKE) is currently on a Buy Signal.
The VIX figure is 11.46. This is 34.4% below the historic median figure of 17.47.
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 1.3293. This is 50.4% 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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