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Video The Dow Jones Looks Bullish At Its Highs

Friday’s trade saw Wall Street quickly shake-off Thursday’s blip, and leave the Dow Jones at a record high with a potential bullish continuation pattern.

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[Video] The Dow Jones Looks Bullish At Its Highs (STOXX 50, USD/JPY)

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In today’s video we also look at the STOXX 50 index which also appears on the cusp of breaking higher, then update our analysis on USD/JPY.

 

S&P 500: Market Internals

Chart shows S&P 500 sector performance against the main sectors. Published in July 2021 by FOREX.com

S&P 500: 4369.55 (1.13%), 09 July 2021

  • Financials (2.869%) was the strongest sector and Utilities (0.157%) was the weakest
  • 11 out of the 11 S&P 500 sectors closed higher
  • 5 out of the 11 sectors outperformed the S&P 500
  • 460 (91.09%) stocks advanced and 44 (8.71%) declined
  • 90.69% of stocks closed above their 200-day average
  • 63.96% of stocks closed above their 50-day average
  • 62.77% of stocks closed above their 20-day average

Outperformers:

  • + 1.16%   -  Discover Financial Services  (DFS.N) 
  • + 1.16%   -  Nov Inc  (NOV.N) 
  • + 1.15%   -  State Street Corp  (STT.N) 

Underperformers:

  • -2.95%   -  Biogen Inc  (BIIB.OQ) 
  • -1.40%   -  Dexcom Inc  (DXCM.OQ) 
  • -1.22%   -  Resmed Inc  (RMD.N) 

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S&P 500 forecast: Stocks extend drop as correction risks grow

US and global equity markets have extended Wednesday’s sell-off, with Wall Street opening lower after a weak handover from Asia and Europe. The deterioration in risk appetite has been spreading across global markets. The dollar was firmer, Treasury yields were holding onto yesterday’s gains, while gold, silver and bitcoin were all under pressure alongside equities and major currencies.

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