Friday Morning Joe. 22 July, 2016. Bit late - but I finally made it.
In America:
Dow Jones -0.42%, SP500 -0.36%, Nasdaq -0.31%, NY Composite -0.32%, Russell2000 -0.49%. These were modest to moderate falls. Nothing to suggest that the sideways consolidation is over. The Three Day Candle Pattern on the DJ looks bearish, but I'd like to see a wider range than today to go all out on that dall.
NYSE NewHigh/NewLow Ratio remains bullish at 97.7%. New Lows registered just four.
SP500:
Indicators are turning down. A break below Tuesday's low would suggest at least a moderate pull-back - possibly to the first line of horizontal support. But we'll play as it comes.
Bonds Ratio:
Bonds Ratio (TNX/TYX) provides an insight into risk-on and risk-off. This session's action was bearish - hitting the 200-Day MA then reversing to finish down -1.12%. This daily candle is a bearish engulfing candle. That's not enough to definitively change the trend, but add to this the fact that Utilities was up +0.62% (best of the sectors) and Gold was up +1.52%, and we have a fairly compelling case that Risk has switched from On to OFF.
RB.
- Forums
- ASX - By Stock
- Hammock Friday
Friday Morning Joe. 22 July, 2016. Bit late - but I finally made...
-
- There are more pages in this discussion • 12 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add XJO (ASX) to my watchlist
|
|||||
Last
8,057.9 |
Change
58.600(0.73%) |
Mkt cap ! n/a |
Open | High | Low |
7,999.3 | 8,083.7 | 7,999.3 |
Featured News
XJO (ASX) Chart |