July 13, 2026
Preview from my weekly report*
Market
Overview: the bull market continues for most stocks, but you have to be
in the strong ones.
The
following rose to new highs last week, confirming their bullish trends: Transportation (IYT) Industrial (XLI) Health Care (XLV) Financial (XLF) The Cumulative Daily Advance–Decline
Line (A/D Line) On the bearish side, the following ETFs are
underperforming and are in weak technical positions: Consumer Staples (XLP) Crypto-related stocks Copper (CPER) Precious metals: Silver (SLV), Gold
Miners (GDX), and Gold (GLD) U.S. fixed-income ETFs (TLT, IEF,
AGG)
Currencies, Crypto, Commodities, and
Fixed Income The U.S. Dollar Index ETF (UUP) eased lower after rising to its highest level since November
on 6/24/2026. UUP remains technically bullish above 50-day and 200-day SMAs. Look
for resistance near previous highs around 28.56 and 30.76. Look for nearby
support around 28.27, 27.87, 27.63, and 26.40. Crypto-related stocks remain in unfavorable trends and should be avoided. The iShares Bitcoin Trust ETF (IBIT) fell to its
lowest level since September 2024 on 6/25/2026, confirming previous sell signals.
Longer term, IBIT remains below its 50- and 200-day SMAs, and the 50-day SMA has
been stuck in a bearish position below the 200-day SMA since 12/11/2025. The iShares
Ethereum Trust ETF (ETHA) has underperformed IBIT over the past 2 years, and
that trend may continue. Copper (CPER), an industrial metal,
reflects prospects for global economic growth. Copper crossed below its 50-day
SMA on 6/23/2026, a signal of weakness for the short term. Look for resistance
near previous highs around 38.10, 39.82, and 40.78. Look for support around 36.12
and 35.33. Precious metals are below both
50-day and 200-day SMAs and remain out of favor. Silver (SLV), Gold
Miners (GDX), and Gold (GLD) probably
will continue to underperform. Energy markets again
confirmed bearish momentum for the short term this month as WTI Crude Oil Futures
(CLQ26) and Oil ETF (USO) both broke down below 3-month lows and
fell further below 50-day SMAs. U.S. fixed-income ETFs (TLT, IEF, AGG) fell further below their 50-day and
200-day SMAs last week, again confirming weakness. Longer term, the 50-day SMAs are bearish below 200-day SMAs for all three
fixed-income ETFs.
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