Week 33 Stock Markets Trending Report
The stock markets were weaker the last 3 trading days. Looking at what changes that has brought to our trending report heat map.
In summary, everything is still trending short-term bullish. Most prices have dipped below their 10-day moving average and several below their 20-day moving average as well.
The question is whether this down week (which was expected after 4 straight up weeks) is just a breather before the markets keep trending higher. Or is this the beginning of further weakness in the markets. The coming week will be a big indicator of that.
The Utilities and Natural Gas sectors are the only one that continue to trend perfectly bullish.
Major Markets
The S&P 500 price has closed just below its 10-day moving average. It could be the beginning of a reversal, or it could be a temporary breather in its move up. I will wait and watch. For now, it continues to trend short-term bullish. The S&P 500 price was close to going over the 200-day moving average, but it reversed this week and did not make it.
The Dow Jones price is holding on the best among the major markets. The price actually crossed over the 200-day moving average but then ended the week below it.
The NASDAQ price has also closed below its 10-day moving average. This drop is deeper, and we will need to watch if it dips below its 20-day moving average as well.
The NASDAQ 100 price has also closed below its 10-day moving average.
The Russell 2000 price has also closed below its 10-day moving average. The price was above 200-day moving average last week but dipped below it this week.
The Emerging Markets price has dipped more than the rest. It is now crossed below both the 10-day and the 20-day moving average. The price was over the 50-day moving average last week but dipped below it this week.
Major Sectors
The Energy sector XLE price has crossed below both the 10-day and the 20-day moving average. The price has actually fallen 5 trading days in a row.
The Metals & Mining sector XME price has fallen below the 10-day moving average. The price movement has been extremely choppy this week.
The Financials sector XLE price has dipped just below its 10-day moving average.
The Industrials sector XLI price came very close to dipping below its 10-day moving average but just managed to stay above this week.
The Materials sector XLB price dipped below its 10-day moving average.
The Transports sector XTN price dipped below both the 10-day and the 20-day moving average.
The Utilities sector XLU continues to remain in a perfectly bullish trend.
The Consumer sector XLY price dipped below its 10-day moving average.
The Real Estate sector XLRE price dipped below its 10-day moving average.
The Retail sector XRT price dipped below its 10-day moving average.
The Technology sector XLK price dipped below its 10-day moving average. Interestingly the price briefly crossed over its 200-day moving average but then fell back later in the week.
The Homebuilders sector XHB price dipped below its 10-day moving average.
The Semiconductors sector XSD price dipped below its 10-day moving average.
The Biotech sector XBI price has dipped below both the 10-day and the 20-day moving averages. The price also fell back under its 200-day moving average. The price has fallen 4 straight trading days.
The Gold Miners sector GDX price has dipped below both the 10-day and the 20-day moving averages.
Countries
Australia EWA price dipped below both the 10-day and the 20-day moving averages.
Canada EWC price dipped below its 10-day moving average.
Germany EWG price dipped below both the 10-day and the 20-day moving averages. Price also fell below its 50-day moving average.
Hong Kong EWH price dipped below both the 10-day and the 20-day moving averages. It is back to being perfectly bearish.
Israel EIS price managed to stay just on the 10-day moving average. It is down week-over-week though.
Japan EWJ price dipped below both the 10-day and the 20-day moving averages.
Singapore EWS price dipped below both the 10-day and the 20-day moving averages.
United Kingdom EWU price dipped below both the 10-day and the 20-day moving averages.
Brazil EWZ price dipped below its 10-day moving average. The price also just dipped below its 200-day moving average.
China FXI price dipped back below its 10-day moving average. It is again back to being perfectly bearish.
India INDA price dipped below its 10-day moving average. The price has just crossed over its 200-day moving average but could not hold on to it.
Indonesia EIDO price dipped below its 10-day moving average. The price also dipped back below its 200-day moving average.
Malaysia EWM price dipped below both the 10-day and the 20-day moving averages.
South Korea EWY price dipped below both the 10-day and the 20-day moving averages. The price also dipped below its 50-day moving average. It has had almost a straight line drop over the last 5 trading days.
Taiwan EWT price dipped below its 10-day moving average.
Alternate and Thematic Sectors
US Natural Gas UNG continues to trend perfectly bullish.
Lithium LIT price dipped below both the 10-day and 20-day moving averages. It has also dipped back below its 200-day moving average. It has traded down 4 straight days in a row.
Solar TAN price fell below its 10-day moving average.
Clean Energy ICLN price fell below its 10-day moving average.
Autonomous Driving DRIV price fell below its 10-day moving average.
Cybersecurity BUG price fell below its 10-day moving average.
ARK Autonomous ARKQ price dipped below both the 10-day and 20-day moving averages. It has traded down 5 straight days in a row.
Robotics BOTZ price dipped below both the 10-day and 20-day moving averages.
FinTech FINX price dipped below both the 10-day and 20-day moving averages.
Cloud CLOU price dipped below both the 10-day and 20-day moving averages.
ARK Genome ARKG price dipped below both the 10-day and 20-day moving averages. The price has fallen 4 straight days in a row.
ARK Innovation ARKK price dipped below both the 10-day and 20-day moving averages. The price also just dipped back below its 50-day moving average. The price has fallen 4 straight days in a row.
ARK FinTech ARKF price dipped below both the 10-day and 20-day moving averages. The price has fallen 4 straight days in a row.
ARK Web ARKW price dipped below both the 10-day and 20-day moving averages. The price has fallen 4 straight days in a row.
Gold GLD price dipped below both the 10-day and 20-day moving averages. The price also dipped back below its 50-day moving average. The price has fallen 5 straight days in a row.
Bitcoin BTC price dipped below both the 10-day and 20-day moving averages. The price also dipped back below its 50-day moving average.
Ethereum ETH price dipped below both the 10-day and 20-day moving averages.