Ready for Launch

The S&P 500 (SPX) and the Nasdaq 100 (NDX) both closed near their all-time highs while the Dow Jones Industrial Average (DJX) and the Russell 2000 small-cap index moved higher as well. As the large-cap stock indexes push against old resistance, it seems as if the market has nowhere to go but up.

Chart Advisor | Focus on the Price By Gordon Scott, CMT Friday, October 25, 2019 1. Stocks Closed at their Old Highs as Bonds Continue to Lag 2. Gold is on the Rise Lifting Gold Miners Along the Way 3. Home Depot gets Help from the Homebuilding Industry Market Moves The S&P 500 (SPX) and the Nasdaq 100 (NDX) both closed near their all-time highs while the Dow Jones Industrial Average (DJX) and the Russell 2000 (RUT) small-cap index moved higher as well. As the large-cap stock indexes push against old resistance, it seems as if the market has nowhere to go but up. Most stocks seem poised to go higher, potentially launching the indexes into still higher levels than any yet seen.    The moves higher today were mild, but that is typical of bull markets. Two surprising outcomes were that today Amazon (AMZN) and yesterday 3M Company (MMM) reported surprisingly negative news associated with their earnings. Despite this both stocks rose significantly today. This adds evidence to the notion that investors prefer to be buyers of stocks right now. As the chart below shows, bonds have lagged behind stocks for the past two months, demonstrating that investors are indeed shifting from other investments back into stocks.      Gold is on the Rise Lifting Gold Miners Along the Way Gold prices, as tracked by State Street's SPDR Gold Trust ETF (GLD), have lagged a bit behind stocks, but are up a respectable 15 percent so far this year. But where gold prices go timidly, gold mining stocks go boldly.   Mining companies are up significantly since June on the news of a rise in the price of the precious metal. Shares of Anglogold (AU), El Dorado (EGO), Newmont Mining (NEM), Barrick Gold (ABX), and Royal Gold (RGLD) are all rising more dramatically than gold over the past four months.     Read more: Online Broker Battlefield Shifts from Costs to Execution Quality How Technology Is Changing Financial Advice  Home Depot vs. Lowe's: What's the Difference? Home Depot gets Help from the Homebuilding Industry Shares of Home Depot (HD) rise and fall based on what is happening in the homebuilding industry. 2019 has been a good year for that industry and sales of tools, building and remodeling supplies have also been on the rise as new home construction continues apace across the U.S. Homebuilders have surged over the past week while HD shares have sunk. Could this be sending the message that Home Depot is readying another move higher as it resumes its trend?       The Bottom Line Bonds have lagged over the past two weeks as stock indexes closed near their all-time highs. Gold prices have seen a new uptick as gold-mining stocks have risen significantly over the past several months. Another industry that has had a good year so far is the homebuilding industry, and one stock that benefits is Home Depot. How can we improve the Chart Advisor? Tell us at chartadvisor@investopedia.com Enjoy the Chart Advisor?  Copy and share the link below to invite friends to sign up https://link.investopedia.com/join/53o/00-fwd-chartadvisor CONNECT WITH INVESTOPEDIA Email sent to:  mondemand.forex@blogger.com If you wish to update your newsletter preferences or unsubscribe, please click here   114 West 41st St, floor 8 New York NY 10036 © 2019, Investopedia, LLC. All Rights Reserved | Privacy Policy