Market Momentum Short-Term Update for 7/8/21

The S&P 500 and NASDAQ edged up to slight new highs, but the Dow did not.

S&P 500
SPY (standard ETF) regained yesterday’s loss and then some, finishing up a modest 0.35%. It remains positive above $429. Investors should be very careful here, as it’s stretched very far to the upside and could reverse soon.
SH (inverse ETF) fell 0.39% and remains negative below $15.35. Investors could buy when it reaches neutral.

Gold continued to steadily rise.

Gold
GLD (standard ETF) moved up 0.38% and remains positive above $167.65. Investors could hold with a stop loss at $166.50.

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