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NASDAQ
The Nasdaq advanced today after finding a bottom on Friday morning. It was technology’s (XLK) turn to lead the way, followed by consumer discretionaries (XLY) and Energy (XLE). Biotech (IBB) lagged today falling about 75 bps.
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Dollar
Turning our attention to the Dollar, we find that it stuck in a lower trend, but let me overlay the Dollar chart with the 10-2 chart, we can let that be our guide.
Similiar? Kind of? Will the Dollar see a sharp spike higher? We will need to continue to watch that. But perhaps the 10-2 spread is a window into the future of the Dollar. That would certainly be bearish for many materials (XLB) and commodities.
S&P 500 – 50 Day Moving Average
Finally, the S&P 500 is sitting right on its 50 Day Moving Average? Is time for the index to jump higher? The last couple of times the index advanced after it touched the 50-day. Unlock Deeper Insights with Exclusive Member-Only Video Content on The Market Chronicles YouTube Channel – Just $34.99/Month
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Disclaimer
Mott Capital Management, LLC is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Upon request the advisor will provide a list of all recommendation made during the past twelve months. Past performance is not indicative of future performance.
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This report contains independent commentary to be used for informational and educational purposes only. Michael Kramer is a member and investment adviser representative with Mott Capital Management. Mr. Kramer is not affiliated with this company and does not serve on the board of any related company that issued this stock. All opinions and analyses presented by Michael Kramer in this analysis or market report are solely Michael Kramer’s views. Readers should not treat any opinion, viewpoint, or prediction expressed by Michael Kramer as a specific solicitation or recommendation to buy or sell a particular security or follow a particular strategy. Michael Kramer’s analyses are based upon information and independent research that he considers reliable, but neither Michael Kramer nor Mott Capital Management guarantees its completeness or accuracy, and it should not be relied upon as such. Michael Kramer is not under any obligation to update or correct any information presented in his analyses. Mr. Kramer’s statements, guidance, and opinions are subject to change without notice. Past performance is not indicative of future results. Neither Michael Kramer nor Mott Capital Management guarantees any specific outcome or profit. You should be aware of the real risk of loss in following any strategy or investment commentary presented in this analysis. Strategies or investments discussed may fluctuate in price or value. Investments or strategies mentioned in this analysis may not be suitable for you. This material does not consider your particular investment objectives, financial situation, or needs and is not intended as a recommendation appropriate for you. You must make an independent decision regarding investments or strategies in this analysis. Upon request, the advisor will provide a list of all recommendations made during the past twelve months. Before acting on information in this analysis, you should consider whether it is suitable for your circumstances and strongly consider seeking advice from your own financial or investment adviser to determine the suitability of any investment.
Dollar Dependent
Mott Capital's Market Chronicles 7 hours ago