//
you're reading...
D&D Note

D&D Note (5.11.2018) ~ DOW Stages 7th Straight Day of Gains ~ #StockMarket #Rally

wall-street-bull-sculpture small

D&D Note (5.11.2018) ~ DOW Stages 7th Straight Day of Gains ~

Markets continue to be in a time correction opposed to a sharp V price correction. Both the DOW and S&P 500 are now above their 50 day moving averages which suggests a technical breakout. However on overbought RSI basis we should see a near term reversion to the mean before trying to breakout again.

The DOW has staged a 7 day rally gaining some 1200 points. We’ve now closed two Fridays in a row in the green.

Trade wars, tariffs, and a middle east conflict all still remain major potential geopolitical headwinds.

Tax cuts, earnings, and low inflation all remain tailwinds for the market.

In a speech today the POTUS outlined plans to lower drug prices including possibly requiring listed prices in commercials and ads.

Oil falls 1% but still holds above $70.

After IMLFF had a huge bounce of 35% off the 200 day moving average we have seen a normal reversion to the mean back towards the 200 day. D&D added more to our position today.

Much like the DOW and S&P 500, IMLFF is flirting with technical levels in a wedge pattern. The good news is the flirtations have all been to a breakout to the upside.

Here is the 3 month chart for IMLFF:

Screen Shot 2018-05-11 at 11.52.58 AM

Here is the S&P 500 ETF SPY on a YTD chart:

Screen Shot 2018-05-11 at 11.56.53 AM

 

D&D movers:

– MEDFF up 7.60%

– CNTTF up 6.06%

– APHQF up 2.86%

– UNH up 1.96%

– IMLFF down -7.14%

– NVDA down -2.15%

– MO down -1.52%

– TSLA down -1.30%

Indexes

– DOW up 0.37%

– NASDAQ down -0.03%

– S&P up 0.17%

Sector Movers:

– Telecom up 2.10%

– Health up 1.47%

– Consumer Discretionary up 0.23%

– Real Estate down -0.49%

– Technology down -0.32%

– Consumer Staples down -0.11%

Notes

– US 2-YR 2.539% (up 0.001)

– US 10-YR 2.97% (down -0.001)

– US 30-YR 3.102% (down -0.019)

Volatility

– VIX 12.79 (down -3.33%)

Crypto (1:00 PST)

– BTC $8,609.68

– ETH $689.33

– BCH $1,401.61

– LTC $140.19

Metals

– Gold $1,319.50 down -0.21%

– Silver $16.705 down -0.32%

– Copper $3.1095 down -0.02%

About ddinvestments

Trading Partner for D&D Investments

Discussion

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: