Get 40% Off
🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

Momentum Monday – Are Financials Ready To Lead?

Published 07/15/2019, 12:04 AM
Updated 07/09/2023, 06:31 AM
SPY
-
QQQ
-
IWM
-

The large-cap stock indexes, SPY (NYSE:SPY) and QQQ (NASDAQ:QQQ) keep making new all-time highs. The small-caps are laughing behind but IWM (NYSE:IWM) is certainly looking for constructive above its rising 20 and 50-day moving average.

With the exception of China and biotech, all sectors are looking strong and breaking higher – consumer discretionary, financials, transportation, tech, gold, etc. Strong market breadth coupled with rising long-term inflation expectations and a Fed willing to cut short-term interest rates is a bullish combination.

The new earnings season kicks off tomorrow. Financials are typically first to report. Many of them have already started to break higher in expectations of strong results.

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.