Most areas of the market were negative on 7/13.... besides crude which jumped significantly on further unrest in Iran.
Below are highlights from the NDW Morning Update Video for the morning of 07/14. Access the the video on the NDW Morning Update Video page.
- Most of the major areas we typically look at in the morning calls were negative with trading on 7/13. Of note were emerging markets (EEM) which declined nearly 4% on the day, followed by gold and the Nasdaq composite which each slipped over 1.5%.
- Crude was the main gainer as it jumped almost 10% as tensions in the Middle East escalated yet again…. But it continues to trade below a seemingly key level around $80. A journey back above that point could signal markets pricing in further unrest.
- Gold continues to shed RS, falling back down into O’s to trade within earshot of 2026 lows. Despite just trading around levels from late in 2025, the technical picture has deteriorated significantly and precious metals exposure should be limited when possible.
- You might find yourself traveling more often this summer, but there was a significant break to the downside for Hilton. The trendline break will push Hilton (HLT) down to a 4/5’er, so it remains strong but those with positions should watch the name carefully for further technical weakness.
- The likes of JPM, BAC, WFC, GS, etc. got the big banks earnings started up on the morning of 7/14. Initial results/reactions were fair-productive as of early pre-market movement on Tuesday morning. Many of the “blue-blood” banks maintain strong technical pictures. Broad financials, as evidenced by XLF, remain technically defendable as we move through July… but the sector remains far from a standout leader at the time of this writing.
