There were some bright spots in last week’s stock market action but did the market internals send a strong message or a warning as we head into the last part of June.
It was another positive week for most stock market averages and the ETFs that track the major sectors. Only the Energy Sector Select was under serious selling pressure, closing the week down 4.25%.The positive market performance was moderately encouraging in light of the increased global tensions and more signs of deterioration in China’s economy. The Dow Jones Transportation Average had the week’s best gain, up 1.62%.
There is initial support now in the $116 area with the 20-week EMA at $113.81. The weekly RS has turned up sharply, confirming that XLY is leading the S&P 500 higher. The weekly OBV has just barely edged above its WMA. Last Friday’s economic reports were a mixed bag. Retail Sales, Industrial Production and Business Inventories met or exceeded expectations. The mid-month reading on Consumer Sentiment was weaker than expected, but overall the economic data is not yet sending strong warnings of a recession.There are no signs of a weekly bottom in the 10 Year T-Note Yield. The weekly MACD turned negative on November 30 . The daily MACD turned negative on May 6 and turned up slightly last week. The support at 2.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The last two times the S&P 500 did this, the market topped outThe markets are having their best month since January. But, those gains have also pushed the S&P 500's price-to-earnings ratio close to 17 times forward earnings, a valuation level that marked the top in May and last fall.
Read more »
How To Make At-Home Hair Removal Last Up To 4 WeeksHurts less, lasts longer. Winning
Read more »
Physical Strength of Pilots Emerges as Issue in Returning 737 MAX to FlightEfforts to get Boeing’s 737 MAX jetliners back in the air are being delayed in part by concerns about whether the average pilot has enough physical strength to turn a manual crank in an emergency.
Read more »
Boeing’s Latest 737 MAX Concern: Pilots’ Physical StrengthEfforts to get Boeing’s 737 MAX jetliners back in the air are being delayed in part by concerns about whether the average pilot has enough physical strength to turn a manual crank in an emergency.
Read more »
FAA says pilot strength isn't holding up Boeing 737 Max recertificationFederal aviation regulators say the recertification process for Boeing's troubled 737 Max jets isn't being held up over concerns that the average pilot isn't strong enough to turn an emergency crank on the plane.
Read more »