Week 34 Stock Markets Trending Report
The stock markets turned somewhat bearish this week. Almost everything I track turned weak. The ones that stood out against the grain are in bold below.
The Energy XLE and Metals &Mining XME are moving in opposite direction of the S&P 500. Could perhaps be a counter play.
Brazil and China showed some strength among the countries.
Meanwhile US Oil and US Dollar are both going strong.
Major Markets
The S&P 500 price dipped below its 20-day moving average.
The Dow Jones price dipped below its 10-day and 20-day moving averages.
The NASDAQ price dipped below its 20-day moving average. The 10-day moving average is also very close to crossing below the 20-day moving average which will signal a reversal to short-term bearish trend.
The NASDAQ 100 has reversed and turned short-term bearish. Its 10-day moving average has just about crossed its 20-day moving average. The price also fell below its 20-day moving average.
The Russell 2000 price has fallen below its 20-day moving average.
The Emerging Markets price weakened but it did close above its 50-day moving average.
Major Sectors
Energy XLE price crossed above its 10-day and 20-day moving average. It has now turned perfectly bullish.
Metals & Mining XME price crossed above its 10-day moving average.
Financials XLF price crossed below its 20-day moving average.
Industrials XLI price dipped below its 10-day, 20-day and its 200-day moving average.
Materials XLB price dipped below its 20-day moving average.
Transports XTN price turned short-term bearish with its 10-day moving average crossing below its 20-day moving average. The first sector to turn short-term bearish in this round.
Utilities XLU price dipped below its 10-day and 20-day moving averages. Note that XLU was perfectly bullish last week.
Healthcare XLV is the first sector this round to turn perfectly bearish. In 1 week, the price has dipped below the 10-day, 20-day and 50-day moving averages. Also, the 10-day crossed below the 20-day moving average.
Consumer XLY price dipped below its 20-day moving average.
Real Estate XLRE price dipped below its 20-day moving average.
Retail XRT price dipped below its 20-day moving average.
Technology XLK price dipped below its 20-day moving average.
Homebuilders XHB price dipped below its 20-day moving average.
Semiconductors XSD price turned short-term bearish. The price dipped below its 20-day moving average and the 10-day crossed below the 20-day moving average.
Biotech XBI is very close to turning short-term bearish. This week it barely held on.
Gold Miners GDX has turned perfectly bearish. This week the short-term indicators turned bearish.
Countries
Australia EWA turned short-term bearish.
Canada EWC price dipped below its 20-day moving average.
Germany EWG turned perfectly bearish.
Hong Kong EWH remains perfectly bearish.
Israel EIS price dipped below its 10-day moving average.
Japan EWJ turned short-term bearish.
Singapore EWS turned perfectly bearish.
United Kingdom EWU turned perfectly bearish.
Brazil EWZ price crossed over its 10-day moving average. The price also crossed over its 200-day moving average.
China FXI price crossed above its 10-day and 20-day moving average.
India INDA price dipped below its 20-day moving average.
Indonesia EIDO price dipped below its 20-day moving average.
Malaysia EWM turned short-term bearish.
South Korea EWY turned perfectly bearish.
Taiwan EWT price dipped below its 20-day and 50-day moving average.
Alternate and Thematic Sectors
US Natural Gas price dipped below its 10-day moving average.
Lithium LIT no change in trending.
Solar TAN price dipped below its 20-day moving average.
Clean Energy ICLN turned long-term bullish although its price dipped below its 20-day moving average.
Autonomous Driving DRIV price fell below its 20-day moving average.
Cybersecurity BUG price dipped below its 20-day moving average.
ARK Autonomous ARKQ has turned perfectly bearish.
Robotics and AI BOTZ has turned perfectly bearish.
FinTech FINX turned short-term bearish.
Cloud CLOU turned perfectly bearish.
ARK Genomics ARKG turned short-term bearish.
ARK Innovation ARKK turned perfectly bearish.
ARK Fintech ARKF turned short-term bearish.
ARK Web ARKW turned perfectly bearish.
US Oil USO turned short-term bullish.
Gold GLD has turned perfectly bearish.
Bitcoin BTC has turned perfectly bearish.
Ethereum ETH has turned perfectly bearish.
US Dollar DXY is trending perfectly bullish.