Market Overview
Stocks closed mixed: Stock markets closed with mixed performance on Thursday, as the Dow Jones moved higher while S&P 500 and the technology-heavy Nasdaq both fell. Nonetheless, for the full year, the Nasdaq is up about 18%, while the S&P 500 is up almost 15%. The Dow Jones, however, is up just about 4% year-to-date. Keep in mind that this index is more heavily weighted towards sectors like financials, healthcare, and industrials, while the S&P 500 and Nasdaq have higher weights in the technology and growth sectors which have been leading markets higher. Meanwhile, Treasury yields also ticked higher on Thursday, although they have fallen rapidly in recent weeks, particularly after inflation data for May was softer than expected. The 10-year Treasury yield was up about 0.03% to 4.26% but remains well below the April highs of 4.7%. The move lower in bond yields in recent weeks has supported better performance in both stock and bond markets.
Market Indexes and Winners
Good Stock Set Ups
STOCK SETUP: GLD @06/20/2024
| Ticker | GLD, SPDR Gold Shares ETF | Note |
| Last Price | 218.16 | |
| Buy | 218.16 | Limit Order This is generated by our mechanical trading system. Please read the chart section for more detailed and flexible entry options. |
| Target | 239.98 | Default at 10%, Or Sell when close below ma5(short term)/10(midterm)/20(long term) or when big down day or when formed inverted hammer at a resistance level |
| Stop | 211.16 | |
| Reward/Risk | 3.12 : 1 |
Above is the summary of one of our Stocks Buy Setup.
More Technical Status for GLD @06/20/2024
| ATR (14) | 2.76 | Stop can be set at 1xATR below recent low |
| Beta | 0.19 | Beta measure of a stock’s volatility in relation to SP500. Greater than 1.0 means more risky than SP500 |
| RSI(14) | 54.32 | Greater than 50 means bullish. Crossing above 30 in correction is a good buydip too |
| SMA20 | 0.89% | Distance to SMA20 |
| SMA50 | 0.57% | Distance to SMA50 |
| Recommendation | Analysts’ mean recommendation (1=Buy 5=Sell) |
Our system generated several buy signals today. GLD is one of them. Let’s take a look at this stock’s chart (The first chart below is a live chart).
STOCK SETUP: SLV @06/20/2024
| Ticker | SLV, iShares Silver Trust | Note |
| Last Price | 28.00 | |
| Buy | 28.00 | Limit Order This is generated by our mechanical trading system. Please read the chart section for more detailed and flexible entry options. |
| Target | 30.8 | Default at 10%, Or Sell when close below ma5(short term)/10(midterm)/20(long term) or when big down day or when formed inverted hammer at a resistance level |
| Stop | 26.42 | |
| Reward/Risk | 1.77 : 1 |
Above is the summary of one of our Stocks Buy Setup.
More Technical Status for SLV @06/20/2024
| ATR (14) | 0.80 | Stop can be set at 1xATR below recent low |
| Beta | 0.73 | Beta measure of a stock’s volatility in relation to SP500. Greater than 1.0 means more risky than SP500 |
| RSI(14) | 56.29 | Greater than 50 means bullish. Crossing above 30 in correction is a good buydip too |
| SMA20 | 1.25% | Distance to SMA20 |
| SMA50 | 5.82% | Distance to SMA50 |
| Recommendation | #RECOM# | Analysts’ mean recommendation (1=Buy 5=Sell) |
Our system generated several buy signals today. SLV is one of them. Let’s take a look at this stock’s chart (The first chart below is a live chart).
Past Picks
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