Daily Report : As Nasdaq indexes rallied, oddities have risen; Energy stocks show another washout


  • Jason Goepfert

    Jason Goepfert

    Published: 2020-07-14 at 17:32:02 CDT

Even as the Nasdaq 100 (and broader Nasdaq) rallied to record highs, options traders have been pricing in higher volatility going forward, so there has been a positive correlation between the NDX and VXN. Breadth momentum has slowed, too, so the McClellan Oscillator was negative. Combined with Monday's price reversal, it suggests caution.; By late last week, every energy stock was trading below its 10-, 50-, and 200-day moving average. Other times the sector saw a complete lack of uptrends, it typically rallied in the months ahead. Same for when there were very quick changes in medium-term trends like we've seen over the past 30 days, as insiders keep buying.


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