Week 41 Stock Markets Trending
Major Markets
No real change here. All markets are trending bearish. The 1 green cell in the Russell 2000 should be considered an anomaly.
Sectors
Out of the 38 sectors I track, 18 are trending perfectly bullish. Other than XLE, no one is showing any bullish strength.
The XOP price dipped below its 10-day and 50-day moving average. Still trending overall bullish though.
The XME had divergent trending. The 10-day crossed over the 20-day moving average even though the price fell below both.
The XLV showing some strength with the 10-day crossing over the 20-day moving average. The price is below the 10-day moving average though. So, I will not call it yet as trending bullish.
The XLI 10-day moving average crossed over the 20-day moving average. The price is still below both the 10-day and the 20-day moving averages. So, not yet trending bullish.
The XLE is trending close to perfectly bullish now. The price just dipped below 10-day moving average but otherwise everything looks good. Have to see if it can hold its strength next week.
The XLB 10-day moving average did cross over the 20-day moving average. However, overall, it stays bearish.
The XHB 10-day moving average did cross over the 20-day moving average. However, the price dipped below both the 10-day and 20-day moving averages.
The XBI is interesting. Both the cross-over pairs (10-day over 20-day and 50-day over 200-day) are bullish. Yet the price is below all the trendlines.
The USO is choppy, and its strength seems to be fading at least for the short-term.
The UNG has been losing ground and has the potential to turn perfectly bearish soon.
The SLV is quickly turning bearish.
The PBW turned perfectly bearish.
The KRE turned short-term bullish amid choppy price action.
The IGE is choppy as well - so not much to take from its trending as of now.
The IBB is trying to go bullish - will have to wait and see if it is successful.
The GLD is losing strength.
Same with GDX.
Global
Not much to say when 26 out of 31 global regions I track are trending perfectly bearish. Interestingly, Turkey is trending perfectly bullish.