Thursday, 7/3: Stocks Up, Bonds Drop, Gold Sells Off

Price chart analysis and commentary

S&P 500:

Up .83% at the close, but the breadth indicators suggest caution. More on that later, for paid subscribers.

Nasdaq 100:

The .99% gain comes on a low-volume session just before a long weekend.

iShares 20+ Year US Treasury Bond ETF:

As bond yields rise, the price of the bond fund drops. Today, the -.68% close puts it right in between a rising 50-day moving average and a downtrending 200-day moving average. This was a low-volume session with traders gone for the holiday weekend.

SPDR Gold Shares:

The minus .72% session keeps the price just above the 50-day moving average as the sideways patterns continues to unfold.

United States Oil Fund:

Today’s .61% drop leaves a daily candlestick that failed to rise above yesterday’s trading range high and remained above its low. This type of “inside day” shows traded indecision. They’re putting off making a decision, perhaps waiting for some news.

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