In this episode of Big Trends Monthly with Josh Brown and JC Parets of All Star Charts. They break down the latest monthly closing candlestick charts.
- The S&P 500 finished July well above its 10-month exponential moving average.
- Health Care, Consumer Discretionary and Communications stocks all turned higher and their sector ETFs have joined the new highs list.
- Every major sector and asset class went higher over the last month - except the US dollar.
- The US 10-year and 30-year Treasury yields both made new lows.
Candlestick charting originated in the 1700’s as speculators in the rice markets of feudal Japan saw the advantage of visualizing the four most important prices of the day: Opening, closing, high and low. As each month comes to an end, every investable asset class produces a new candle on its monthly chart. These are most notable monthly candles and the stories behind them.
