Analyst Commentary:

• Domestic equities were muted last week, but the Nasdaq-100 Index (NDX) hit a new all-time on Friday. It now sits on five consecutive buy signals, highlighting the strength of growth-focused stocks in recent months.

• Energy fund XLE fell 3.5% last week—the most of any major sector. While the broader sector remains weak near the bottom of our relative strength rankings, clean and nuclear energy stocks look more attractive.

• Gold representative GLD rose 4% last week to break through previous strong resistance, hitting a new all-time high. The commodity has risen almost 37% YTD and has regained some relative strength after cooling down in recent months.

• China ranks second in our Asset Class Group Score page after rebounding sharply from its April low. The MSCI China fund MCHI holds acceptable strength after gaining 31% year-to-date, roughly 20% higher than the S&P 500.

• As market expectations for a Fed interest rate cut in September grow increasingly probable, the US 2 Year Treasury Yield Index (US2YR) hit multi-year lows last week, serving as a tailwind for fixed income.

Nasdaq Dorsey Wright’s Weekly Featured Chart:

To read more on gold, you can read Friday's featured article HERE.

Major US Index Technical Review:

A summary of the performance of major indices, in addition to their Point & Figure information. 

The Group Score Minute:

Senior Equity Specialist Steve Raymond dives into the latest trends and changes within our Asset Class Group Scores. To listen now, click HERE or on the image below. 

Nasdaq Dorsey Wright Products:

The AdvisorShares Dorsey Wright FSM U.S. Core ETF (DWUS) is comprised of 2 ETFs—primarily in domestic large-cap equities—that demonstrate in our opinion, favorable relative strength characteristics.  During periods in which the Advisor believes the market indicates broad equity weakness and cash strength, the Fund invests in fixed-income ETFs with a short or ultra-short duration, money market funds, cash and cash equivalents.  To learn more about DWUS, Click HERE.

Want More? Don't Miss Out on Our Podcasts!

This week, we discuss AI names, gold, rates, and introduce relative strength aristocrats. To listen now, click HERE or on the image below. 

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