Smart Investing Today – Your Stock Market Market Digest
Why Analysts Expect Netflix’s Global Membership Base to Grow
On June 5, FierceCable reported, citing research from Digital TV Research, that Netflix (NFLX) is likely to have 128 million memberships in 2022, a growth of 44% from the end
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.
Tempted to Buy the Dip in Tech Stocks? History Suggests Patience
With tech shares showing signs of stabilization after a two-day rout, investors may be tempted to jump back into the hottest trade of 2017.
Precious Metals Snapshot
- Gold Spot Price: $1,257.10 per ounce
- Silver Spot Price: $16.78 per ounce
- Platinum Spot Price: $926.40 per ounce
- Palladium Spot Price: $857.30 per ounce
Gold & Silver Spotlight
SPDR Gold Shares (GLD) share price is $119.82, which is 159.6% above its 50-day exponential moving average of $46.16
The RSI is 47.67 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 $15.95, which is 155.8% above its 50-day exponential moving average of $6.24
The RSI is 40.80 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
Alexion Pharma (ALXN) share price is $118, which is 15.3% above its 8-day exponential moving average of $102.35
Alexion Pharma (ALXN) share price is $118, which is 197% above its 50-day exponential moving average of $39.72
According to the MACD, Alexion Pharma (ALXN) is currently on a Buy Signal.
Radius Health, Inc. (RDUS) share price is $41.57, which is 11.7% above its 8-day exponential moving average of $37.22
Radius Health, Inc. (RDUS) share price is $41.57, which is 187.3% above its 50-day exponential moving average of $14.47
According to the MACD, Radius Health, Inc. (RDUS) is currently on a Buy Signal.
ULTRAGENYX PHARMA (RARE) share price is $61.73, which is 12.1% above its 8-day exponential moving average of $55.05
ULTRAGENYX PHARMA (RARE) share price is $61.73, which is 185.1% above its 50-day exponential moving average of $21.66
According to the MACD, ULTRAGENYX PHARMA (RARE) is currently on a Buy Signal.
The VIX figure is 10.64. This is 39.1% 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
Chart for Total Market Cap / GDP
The ratio of the Total Market Capitalization (Wilshire 5000) to United States GDP is 1.3350. This is 51.1% 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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