7/29/2018

July 30, 2018

Weekly Market Outlook

By Keith Schneider

Due to a heavy travel schedule there will not be a video or text update. The Overview section of Big View (free and premium) has been updated as of 7/29/18

The highlights of this week’s market action are the following:

  • NASDQ broke down under 10 DMA with a bearish engulfing pattern
  • Facebook reported poorly following NFLX the prior week
  • IWM ( Russell 2000) broke down into a warning phase after attempting new all- time highs
  • Long Bonds failed at tests of 50 DMA and remains under pressure in bear phase
  • Emerging Markets are bouncing off an important weekly intermarket ratio (EEM/EFA)
  • Volume patterns and internals are weak for NYSE and in line with upcoming seasonal as August has been historically weak
  • Modern family/ sectors have weakened with a big drop in the number of sectors with positive 6 month returns…. an early indicator of further downside
  • We are watching the FXE as a lead indicator for next big move in both bonds and equities

 

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