Key Indicators Point to a Cooldown: Trade These 2 Defensive Stocks

If you’ve paid attention to my recent videos, then you already know less than half of the stocks in the S&P 500 are pushing the index to record levels. And that the relative strength index for the Nasdaq is at its highest level since September 2020. 

A cooldown is almost certain at this point, so I’ve identified two defensive pullback opportunities to trade this market environment. 

Home prices for April and consumer confidence continue to rise. The biggest report to look at this week will be Friday’s jobs report for June. This will show us how many jobs were created by American employers and give us a better understanding of the jobs situation. 

In today’s video, you’ll discover why the market is grossly overbought… what S&P 500 and Nasdaq divergence levels are telling us… why the put/call ratio is too bullish in the short term… and two hot defensive stocks to target right now.