Highlights from the NDW Morning Update Video from the morning of 6/22.
Below are highlights from the NDW Morning Update Video for the morning of 6/22. Access the the video on the NDW Morning Update Video page.
- Equity indices were positive Thursday (6/18) with emerging markets (EEM) leading the way to the upside, up more than 3%. The Nasdaq-100 (NDX) and Russell 2000 (RUT) were closely behind, up more than 2%, leading their default point and figure charts to reverse into Xs and develop support closer to current prices.
- Broader commodities were negative, led to the downside by gold (GC/), continuing recent chart deterioration within major commodities.
- The U.S. Dollar Spot Index (DX/Y) moved above $100.50 last week, placing the dollar within one box of a potential buy signal.
- Indicators were muted following Thursday’s (6/18) trading and the bullish percents for the NDW 40 sectors maintain a similar average reading from the week prior in the mid 40% range.
- Notable earnings upcoming this week include FedEx (FDX), Micron Technology (MU), and Darden Restaurants (DRI). Each maintains a high technical attribute rating and broke out during last week’s trading.
- The notable economic report this week comes from Personal Consumption Expenditures (PCE) data on Thursday, June 25th.
