This will be a shortened blog as the market is marking time in place.
The stock market rally stalled again this past week with only the DJIA making and closing at a new all-time highs. Use ticker $indu and $spx in the accompanying chart to see the performance of the other two major averages.
In the interim blog post on Wednesday, I indicated a SELL signal on Indicators #5 and #8. See the accompanying charts. The BDH strategy is now on a “2” NEUTRAL signal.
For the week, the DJIA gained 1.20%, the S&P 500 gained 0.19%, and the NASDAQ Composite lost 0.23%. For the 2017 year-to-date, the DJIA has gained 11.79%, compared to 10.63% for the S&P 500, and a 17.99% for the NASDAQ which is still the big leader among these three indexes year-to-date. The BDH strategy has lagged the marke tup 7.94% for the year, and down 0.30% for the week.
There are still many stocks not participating in this rally. The number of new 52-week NYSE highs contracted to 388 compared to 421 the week before, and 431 in the week before that. Oil was flat after a monster rally of more than 8% the week before, fixed income ETFs advanced slightly, and GLD and GDX sank 0.86% and 2.58%, respectively.
To see the current portfolio and its performance check out the dark-liquidity link:
We will see if the S&P 500 and NASDAQ Composite can reclaim new high territory in the next few weeks or begin the long anticipated summer decline. Be careful and have your trailing stops in place, as no one can predict what will happen next.
Have an enjoyable summer week ahead and try to stay cool.
Remember that you are responsible for your investments and how you manage them. If you decide to follow the BDH strategy, then you are responsible for checking the BDH indicators daily during times when the market is volatile. Just bookmark the two charts above and look for any signal changes. I may not available during the week to provide interim Dashboard signal changes. It is important to be pro-active, so as not to miss any Dashboard signals. Decide on and place your stop LIMITS that meet your risk profile.