Week 32 Stock Markets Trending Report
Checking in on the stock markets trending for the past trading week.
Major Markets
I decided to add the NASDAQ 100 (QQQ) within this segment. I trade it quite a bit and it rightfully belongs to this group rather than the major sectors where I was tracking it earlier.
The S&P 500 is very close to crossing over the 200-day moving average. The Dow Jones as well.
The Russell 2000 has crossed over the 200-day moving average. The first of the major markets to do that. It tells me that the bullish trending is broad-based and possibly the smaller companies are leading the markets higher.
The Emerging Markets price crossed over the 50-day moving average. That is the last of the major markets to do so. All is good so far.
Major Sectors
The heat map is collecting more greens every week. All the 16 sectors are now short-term bullish. And 15 of them are trading over their 50-day moving average as well.
Energy XLE has crossed back again over its 50-day moving average. Also, the price is back over its 10-day moving average as well. So, Energy is again become perfectly bullish with its short-term and long-term indicators both bullish.
Metals and Mining XME has crossed over the 200-day moving average.
Industrials XLI has crossed over the 200-day moving average.
Materials XLB has crossed over its 50-day moving average.
Utilities XLU continues to remain perfectly bullish.
Healthcare XLV has crossed over its 200-day moving average. The price also crossed over its 10-day moving average.
Technology XLK very close to crossing over its 200-day moving average. Likely will do so next week if the price trending continues.
Biotech XBI has crossed over its 200-day moving average.
Gold Miners GDX has turned short-term bullish with the 10-day moving average crossing over the 20-day moving average.
Countries
Canada EWC price has crossed over its 50-day moving average.
Germany EWG price has crossed over its 10-day moving average.
Hong Kong EWH price picked up and is now crossed over both the 10-day and the 20-day moving averages.
Israel EIS price is very close to crossing over its 200-day moving average.
Japan EWJ price crossed over its 10-day moving average and continues to trend short-term bullish.
Brazil EWZ price crossed over its 200-day moving average.
China FXI price crossed over its 10-day moving average. However, it is still trending short-term bearish.
Indonesia EIDO price crossed over its 200-day moving average.
Taiwan EWT price has crossed over its 50-day moving average.
Alternate Thematic Sectors
Natural Gas UNG price has crossed over its 10-day moving average.
Lithium LIT price has crossed over its 200-day moving average.
Solar TAN has turned perfectly bullish. The 50-day moving average has just crossed over its 200-day moving average.
US Oil USO price crossed over its 10-day moving average. It is still trending short-term bearish.
Gold GLD price crossed over its 50-day moving average.
Bitcoin BTC-USD price crossed back over its 10-day moving average.