Market Insights

Downloads are available here. TradeStation’s ideas on TradingView are available here.

Sizing Up the S&P 500

• S&P 500 crosses 5,600 for first time
• Index up 6 straight sessions, longest since 11/6
• Patterns similar to pre-April:
  • Relative Strength Index (RSI) staying overbought
  • 9-day Rate of Change staying positive
  • Tight consolidations resolving higher without significant pullbacks
• Breadth improves as 52-week highs increase and stocks above 20-day MAs exceed stocks above 50-day MAs.
• Intermarket:
  • 10-year Treasury yield low sat near 4.32% before today’s CPI

News & Views

• “Powell put”? Fed boss cites risks of high rates
• Reuters: Fed may cut GSIB surcharge on major banks
• Commodities like corn, soybeans, lumber under pressure
• BP, PBF highlight weakening refiner margins
• Goldman Sachs: Hedge funds buying commodity stocks
• Oppenheimer raises S&P 500 target to 5,900

Upcoming Events

• Fri 7/12: PPI
  • Earnings: JPM C WFC
• Mon 7/15: China “Third Plenum” (through Thu)
  • Earnings: GS
• Tue 7/16: Retail sales
  • BAC MS
• Wed 7/17: Housing starts, building permits
  • Earnings: JNJ, UAL, USB
• Thu 7/18: Jobless claims

Using the Platform

Brkout of X Bar High can detect potential range breakouts. It can send alerts and mark breakouts on charts. Default length of 14 bars can be adjusted under Inputs tab in Customize dialog.

• On RadarScreen™: Studies → Add Study… Then change “Select Study Type” to “ShowMe”
• On Chart Analysis: Studies → Add Study… Then select “ShowMe” tab on left

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Exchange Traded Funds (“ETFs”) are subject to management fees and other expenses. Before making investment decisions, investors should carefully read information found in the prospectus or summary prospectus, if available, including investment objectives, risks, charges, and expenses. Click here to find the prospectus. 

Performance data shown reflects past performance and is no guarantee of future performance. The information provided is not meant to predict or project the performance of a specific investment or investment strategy and current performance may be lower or higher than the performance data shown. Accordingly, this information should not be relied upon when making an investment decision. 

Options trading is not suitable for all investors. Your TradeStation Securities’ account application to trade options will be considered and approved or disapproved based on all relevant factors, including your trading experience. See www.TradeStation.com/DisclosureOptions. Visit www.TradeStation.com/Pricing for full details on the costs and fees associated with options.

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