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Hovering Near The Highs June 30, 2019

Posted by Tom in Thoughts.
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June 28, 2019 – First a few housekeeping items:  If you want to enlarge any graph or table in this blog, please click (or double click) on it and it should open up for easier viewing.  Second, just a reminder that I update over the weekend; it could be Saturday or Sunday.  Lastly, let me know if you’d like to see or hear about something different.  I’ll try to oblige.

Not a whole lot of movement this past week.  A bunch of narrow bars seem to indicate indecision.  The big volume spike on Friday is nothing more than end of the quarter rebalancing, since it all happened in the last half hour on Friday and there was little price movement (i.e. it was reporting volume, not buying/selling volume).  Indicators are positive with the first level of support at 7812.  Since this is a holiday week there will likely not be a lot of activity.  Reports are that Trump & China have called a truce on tariffs; kind of neutral news.  The market was hoping for something more positive.

Looking at overall market health via stocks in the S&P 1500 Index below:

Price Strength –Accumulation / Distribution –

Overall, fairly positive with many stocks significantly above their 20 day moving average and good Accumulation without too much buying.

Sector Strength –

Again we see Tech sectors and Energy near the top with Precious Metals still showing strength.  I remind folks that this table is short term strength and not an indicator of long term movements or trends.

That’s it for this week.  I’m doing selective buys but not in a hurry to be completely invested.   ……..  Tom  …….

Price chart by MetaStock; pie chart & table by http://www.HighGrowthStock.com. Used with permission.


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