• 745 days Will The ECB Continue To Hike Rates?
  • 745 days Forbes: Aramco Remains Largest Company In The Middle East
  • 747 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,147 days Could Crypto Overtake Traditional Investment?
  • 1,152 days Americans Still Quitting Jobs At Record Pace
  • 1,154 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,157 days Is The Dollar Too Strong?
  • 1,157 days Big Tech Disappoints Investors on Earnings Calls
  • 1,158 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,160 days China Is Quietly Trying To Distance Itself From Russia
  • 1,160 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,164 days Crypto Investors Won Big In 2021
  • 1,164 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,165 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,167 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,168 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,171 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,172 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,172 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,174 days Are NFTs About To Take Over Gaming?
Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

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…

  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