International Youth - Friday, page-5

Friday Morning Joe. 12 August, 2016.

In America:


Most indices were up moderately, with the Dow Jones doing best. Dow Jones +0.64, SP500 +0.47%, Nasdaq +0.46%, New York Composite +0.57%, Russell 2000 +0.48%. All indices remain above the 20-Day MA, which is a measure of the short term trend.

NYSE NewHigh/NewLow Ratio remains exceptionally bullish at 96.7%. New Lows were insignificant at 7. NH/NL Ratio has been a good guide for remaining with the up trend.

SP500:



The Heiken-Ashi Chart for the SPX remains bullish. Some indicators are showing the a negative divergence. That -ve divergence is most clear on the MFI. A break below the 20-Day MA would suggest a short term down trend.

Commodities:



DBC, the Commodities Index tracking ETF, is showing another doji candle. Up +1.55% after Energy (+3.32) did very well. DBC is having trouble, however, rising above horizontal resistance. Industrial Metals up modestly +0.29%. Gold down +0.69%. We’re coming into a seasonally favourable period for Gold so it might be worth a punt. Iron Ore fell -1.8%

We'll start on the high side today, with the banks probably reeling in some of yesterday's big losses.

RB.