Summer Solstice
The Dow Jones finished up 229 points last week while the Nasdaq 100 NDX finished 15
points as market bounced up from oversold levels.
Sector Action for last week was plus 1067 with 32 Sectors up and 3 down. The
Market Barometer bounced up from oversold condition but is still in bearish territory. (see
graph on page 4)
Rydex Alerts- in cash looking for a bearish entry point.
Short term Trading indicators- Overbought Sell Signal
Market Breadth - Cumulative Market Breadth is trending down which means more stocks are going
down than up.
INTERMEDIATE TERM TRENDS- Bearish.
INTERMEDIATE OSCILLATOR - Overbought Buy June 4th
Some very positive Action the last few weeks and some technology sectors in the top ranks.
Still feels like a trading range but with sector rotation offering some buy and short
opportunities this summer.
Gold XAU- Number one in overall rank in bullish territory and has regained the up trend.
Stocks like Kinross Gold KGC are taking hold.
Utilities UTY- in the top ranks with some solid support from value and high dividend
levels. Holding Southern Co. SO with an eye on taking profits when interest rates uptick.
Healthcare IHI Pharmaceutical DRG- A dramatic rise in rank with stocks like our Waters
Corp what rising steadily as well. Not too late to hop on this train.
Ultra ETF’s- SSO and SDS are tradeable on a daily and intraday basis.
Agribusiness MOO - in the lower ranks which is a sign of inactivity or slow worldwide
economy.
Banks BKX - Bank stocks are off recent highs looking to take profits on MTB.
Housing HGX - Dead last in overall rank which could be a precursor to what happens
when the tax breaks and life support are removed from the economy.
SectorVue and Rydex alerts are for educational purposes only and do not constitute 'investment advice'.
No representation is made that strategies will produce a profit.
There is risk of loss in all trading.
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