Mid-Week Market Trends Analysis
Here is how the trending heat map for the major markets looks like:
The only changes from last week are:
The Russell 2000 turned perfectly bullish.
India INDA crossed below the 10, 20, 50 and 200-day moving averages. Not good at all.
Dow Jones turned perfectly bullish.
The All-Country-World-Index ACWI turned perfectly bullish.
Here is the trending heat map for the SPX sectors:
The changes are:
The Utilities sector XLU turned perfectly bearish.
The Technology sector XLK price crossed over the 200-day moving average.
The Industrials sector XLI price crossed over the 20-day and the 50-day moving averages.
The Financials sector XLF turned perfectly bullish.
The Communications sector XLC price crossed over the 200-day moving average.
Observations:
The trending has improved for the major markets and the SPX sectors in general.
The S&P 500 and NASDAQ are still lagging the other global markets.
Technology XLK and Communications XLC have picked up the pace and are trending better.