Stocks Poised for Pause Amidst Uptrend? Healthcare and Energy Shining & 2 new Buys

Update July 23 2023

Hi, here is my weekly update.

Despite witnessing a strong red day last week, the overall market uptrend appears to be holding steady. While we may approach a temporary pause in the market's recent advances, the prevailing trend remains upward until proven otherwise. Take a look at the Equal Weight SP500 chart below, which is breaking out from a consolidation box. Although a downturn might occur, it has not happened yet.

The energy sector is gaining momentum, driven by oil prices nearing $80/barrel again. Check out the Equal Weight Energy ETF chart below.