- Major equity markets pulled back from recent highs
- Bonds continue downtrend
- US Dollar breaks down from minor support
- Oil breaks through short-term resistance
S&P 500 Daily:
The S&P 500 briefly tagged a new high then pulled back. On Thursday it briefly broke through its short-term uptrend but recovered above it Friday. It is now back into a trading range.
Russell 2000 Daily:
Small caps were the hardest hit last week. Unlike the S&P, Dow, and NASDAQ, the Russell 2000 closed below its 50 day moving average.
TLT Daily:
Bonds continued its decline last week after breaking support. It currently has support at its 200 day MA and the noted trend line.
US Dollar:
The US Dollar continued its downtrend after breaking through its recent consolidation. It is currently testing its support at ~$95.
WTI Daily:
Oil broke through its recent resistance at $58.68 last week. It is expected the recent uptrend will continue.
VGK Daily:
Europe (un-hedged) broke through resistance two weeks ago and it is currently retesting its breakout point. Its anticipated that the uptrend will continue.
HEDJ Daily:
Europe, on a hedged basis, has shown a very impressive YTD performance. It is currently up ~21%.
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