Stock Market Trending Report
In general, the trending remains positive across all the sectors and the countries. Majority are now trending short-term bullish. The question is whether that continues, and we see a perfectly bullish trending market soon.
Major Markets
Although today was a down day and the price fell below its 10-day moving average, the Emerging Markets turned short-term bullish last week.
That is the only change in the major markets. All short-term indicators now looking bullish.
Major Sectors
The Energy sector (XLE) turned short-term bullish again. As we know, Energy has been the best performing sector this year. It had a bit of a dip but looks like picking up steam again.
The Metals and Mining sector (XME) also turned short-term bullish. The price has also crossed over the 50-day moving average.
The Financials sector (XLF) is still trending short-term bullish. Plus, the price crossed over the 50-day moving average.
The Materials sector (XLB) also turned short-term bullish.
The Transports sector (XTN) continues to trend short-term bullish. Plus, its price moved over the 50-day moving average.
The Utilities sector (XLI) turned short-term bullish and long-term bullish. The only sector that is trending perfectly bullish as of now.
The Healthcare sector (XLV) turned short-term bullish again.
The Real Estate sector (XLRE) turned short-term bullish.
The Biotech sector (XBI) seems to be quickly losing steam and hurtling towards bearish trending short-term.
The Gold Miners (GDX) are finally picking up steam. It has not turned short-term bullish yet, but the price did move over the 10-day and the 20-day moving averages.
Countries
Australia (EWA) has turned short-term bullish. The price has also crossed over the 50-day moving average.
Canada (EWC) has turned short-term bullish. The price has also crossed over the 50-day moving average.
Germany (EWG) has turned short-term bullish.
Japan (EWJ) continues to remain short-term bullish. In addition, the price has crossed over its 50-day moving average.
The UK (EWU) has turned short-term bullish. In addition, its price has crossed over the 50-day moving average.
Brazil has turned short-term bullish.
Indonesia (EIDO) has turned short-term bullish. In addition, its price has crossed over the 50-day moving average.
Malaysia (EWM) has turned short-term bullish. In addition, its price has crossed over the 50-day moving average.
South Korea has turned short-term bullish.
Taiwan has turned short-term bullish. Although, the price has currently dipped below the 10-day moving average. Interestingly, China and Hong Kong are still trending short-term bearish.