The Summer “Doldrums” Setting In July 6, 2019
Posted by Tom in Thoughts.Tags: market analysis, market commentary, stock market commentary, technical analysis
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July 5, 2019 – It appears that the Summer Doldrums are setting in, which is rather typical for this time of year. That could change quickly with a significant news item; China trade, Mueller testimony, Iran conflict(s), etc. No doubt the trend is generally up, but once again we’re at the top of a trading range. Stocks will need some fuel to go higher and since the valuation is pretty much fully reflected in prices we’ll need something to push higher. Nothing is “cheap” out there. This will be a “stock pickers market”, so one must be selective as not everything will necessarily go up. I’m doubting that not much will happen until the Fall.
This was a shorten week of trading in the US with many folks on vacation. Activity is slow this time of year. Of note is the strength in Technology issues (electronics, software, semiconductors, even Biotech). Telecom and Banks jumped up a few notches this past week too. Mid Cap stocks continue to show the most strength in the near term. Sector strength table is shown below. (click on any graphic to enlarge it for easier viewing)
That’s it for this holiday week. Take Care & Good Trading. ……….. Tom ………..
Price chart by MetaStock; pie chart & table by http://www.HighGrowthStock.com. Used with permission.
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