toad in the hole thursday., page-2

In America:

Dow Industrials +0.6%
Dow Transports +0.45%
SP500 +0.83%
Russell 2000 +0.32%
Nasdaq100 +0.38%

Comment: America up moderately to strongly, depending on which indices are looked at. The more volatile ones were the weakest. The Russell2000 was the weakest of the five listed above. Danger Will Robinson. We want to see strength in the small caps to keep this rally going.

New Highs came in at 81 while New Lows came in at 14. That?s the best performance since the end of May.

The Materials Sector +1.59% and Energy Sector +1.17%. (Good numbers for Australia.) All nine S&P Sectors were up with Health (a defensive sector) the weakest, +0.2%. The Banking Sector was very strong +2.38% and broke above its sideways consolidation. Semi-conductors was flat, -0.09%.

Europe:
France +1.88%
Germany +1.73%
London +1.54%

Gold in U.S. Dollars is up moderately +0.53%. Gold in Oz Dollars is down -0.95%. AUD/USD up +1.29% to finish at 106.76. (Those figures are positive for the longer term Australian market.) EWA (the ETF for Australian shares) was up very strongly +1.55%.

Technical Comment on the DJ Industrial Average:
The DJIA finished at 12261.4.
Above the 13-Day MA. Positive.
Above the 150-Day MA. Positive.
Indicators:
Stochastic: 79.2. Close to overbought. Caution
The 13-Day MA is at the 150-Day MA. Neutral.
RSI.9 is at 59.4. Back above 50. Positive.
MACD Histogram above Zero . Positive
MACD at Zero. Neutral.
CCI.14: +144.7 and rising. In a zone where retracements occur. Caution

The indicators are generally Positive but nudging on overbought.

Chart Pattern
The chart has broken above the first down trend line. Along with the MACD Histogram above Zero that?s a positive. The chart is marginally above the restraining line of the possible ?bear flag?. It needs to break decisively above that to confirm a new uptrend.

Finally, a chart of the Nasdaq100 ? breakout yesterday ? now at first line of major resistance.



Some charts are showing clear breakouts still to be confirmed by the Dow Industrials.

I?m expecting a pull back here and another buying opportunity.

Good luck
Redb