Dear Savio, The S&P 500 set another all-time high on Tuesday with a close of 4291.80. While this is good news, it obscures the fact that breadth was very low. A little less than half (227) of the stocks in the S&P 500 advanced on Tuesday. This tells us that there is a minority of leaders pulling the index higher. To be clear, this technical issue isn’t a bearish signal. Historically, divergences like this are predictive for volatility rather than declines. Questions?
We can answer them even if you can't make it to tonight's presentation. We'd love to hear from you, so feel free to send us an email at Feedback@InvestorPlace.com. |
This week, the largest stocks in the index are posting gains, but if they stumble in July, then the index will likely follow. The good news is that market fundamentals are still in favor of a positive resolution to the market breadth problem.
Economic growth indicators are still positive. According to the Conference Board, consumer confidence is at a 16-month high, and housing prices are still running higher, among other positive data. We continue to focus on the market leaders with the best income potential, which we'll cover during tonight's presentation along with a full market review, a rundown on all of our current positions and much more. To attend tonight's webinar live at 8 p.m. ET click here To watch the archived version of our webinars, click this link. Tonight's webinar should be posted by about 10 p.m. ET. And during the week, you can send us your subscription and options-trading questions at Feedback@InvestorPlace.com. This is the best, fastest way to reach us directly, and we'll do our best to respond to your questions. Sincerely, 
John Jagerson and Wade Hansen
Editors, Strategic Trader
| 
Comments
Post a Comment