• 7 hours 3 Restaurant Stocks In Full Recovery Mode
  • 15 hours Bitcoin Is Driven By Testosterone
  • 5 days Quantum Computing Is The Newest Megatrend In Silicon Valley
  • 7 days How To Invest In The Cybersecurity Boom
  • 8 days Investors Are Patient With Unprofitable Giants
  • 10 days Wells Fargo Back In The Scandal Spotlight Once Again
  • 12 days 5 Stocks To Keep A Close Eye On This Year
  • 14 days As Auto Giants Flail, Look To Chip Stocks For Gains
  • 14 days Central America Is Ready For The Bitcoin Hustle
  • 16 days China’s Video Game Restrictions Unlikely To Slow Down Booming Industry
  • 17 days Top Performing Stocks As Inflation Fears Grow
  • 18 days US Airline Stocks Take A Beating On New EU Restrictions
  • 19 days This IPO Could Open Sustainable Fashion Floodgates
  • 20 days Crypto Crime Nets Another $2B Fraudster
  • 22 days This Week’s Hottest Meme Stocks
  • 24 days Why World Markets Should Be Watching Germany Closely
  • 26 days Could ‘Cultured’ Meat Rival The Plant-Based Megatrend?
  • 28 days ‘Easy Money’: Crypto Is Still Attracting Newbie Investors
  • 30 days Foreign Syndicates May Have Stolen Up To $400B In COVID Benefits
  • 31 days Gold Jumps Above $1800 Ahead Of Jackson Hole Summit
How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

Chris Vermeulen

Chris Vermeulen

Chris Vermeulen, founder of AlgoTrades Systems., is an internationally recognized market technical analyst and trader. Involved in the markets since 1997.

Contact Author

  1. Home
  2. Markets
  3. Other

Stock Market, Leading Sectors, and The Price of Coffee

It was a relatively dull session yesterday (Monday July 11th) with stocks gapping higher only to trade sideways up till now. As I talked about in the morning's video I expected stocks to grind higher, and for vix ETF to keep moving lower for another day or three.

Coffee continues to be on caffeine-high today testing near today's high, which looks as though it will continue to run higher in the coming days.

Hourly Coffee Chart

Precious metals continue to hold up but I don't expect them to go much higher until equities reverse down in the next week or so.

A couple leading sectors have been underperforming (transports, and financials). The stock market needs the financials to take part in this rally to new highs for the SP500 if the market is to have any real power behind it. The fact that both these key sectors are underperforming tell me there is not a ton of power behind this move to new highs for large cap stocks.

iShares Transportation Average Weekly Chart

Financial Select Sector SPDR Fund Weekly Chart

Also, a few months back I shared some bonus spike trade alerts with everyone. Many of you loved these momentum trades every week as I do also. If you are interested in these spike alerts, see yesterday's blog post for details - Exciting Stuff!

 

Back to homepage

Leave a comment

Leave a comment