Week 10 mid-week Trending updates
I feel compelled to review the trending after just 2 trading days this week. The markets could be getting more volatile than they have been in the recent past. That does not mean the VIX is elevated - it is still under 20. It just means that we may have some see-saw movements the rest of this week and potentially beyond.
With today’s price action in the markets, the trending has most certainly weakened. I do not think too many pundits will be talking about a bull run soon. I am positioned on the short side holding puts and holding them for now.
Major Markets Trending Heat Map
S&P 500 price dipped below its 10-day and 50-day moving averages.
NASDAQ - no change.
Russell 2000 price dipped below its 10-day and 20-day moving averages.
China FXI price dipped below its 10-day and 200-day moving averages.
EAFE price dipped below its 10-day, 20-day and 50-day moving averages.
Emerging Markets price dipped below its 10-day and 200-day moving averages.
Dow Jones price dipped below its 10-day moving average.
SPX Sectors Trending Heat Map
XLY price dipped below its 10-day moving average.
XLV price dipped below its 10-day moving average.
XLU price dipped below its 10-day moving average and it turned perfectly bearish.
XLRE price dipped below its 10-day moving average and it turned perfectly bearish.
XLP - no change.
XLK price dipped below its 20-day moving average.
XLI - no change
XLF price dipped below its 10-day and 50-day moving averages.
XLE price dipped below its 20-day moving average.
XLC - no change.
XLB price dipped below its 10-day, 20-day and 50-day moving averages.