Week 30 Trending Tuesday

Just as I am writing the earnings release for MSFT and GOOGL are being announced. At the time of writing this note GOOGL is up +6.4% and MSFT is down -0.5%.

Overall, markets certainly seem to be weakening somewhat. However, everything continues to trend bullish for now.

Here is how the major markets trending looks like:

Not much change in the 2 days of trading except the momentum for all of them seem to be weakening. Except for DIA. But all of them remain bullish.

SPX Sectors

The big change is XLI has started turning weak although it still remains short-term bullish. In fact, for all the sectors there is some weakness noticed but the trend remains bullish.