US – while the 5 year upward trend continues, the indices are now tracking sideways to up around the 2000 level ....... there is no sign of it beginning oscillate back down again....
CHINA - from its sideways movement of the last couple of weeks its chart has now produced another strong upward spurt over the last 2 days
JAPAN – its o/a upward trend continues..
EUROPEAN STOCKS - the DAX still continues its strong upwaard trend ?????
Our INDEX – after reaching the top of its trading band trading 2 weeks ago it has been trading sideways since, and is now located near the middle of the currenty steep upward trending trading band with no signs of going in any particular direction......
bold type indicates comparison or change from previous The sectors
Resources --------------------now moving sharply down.
Energy -------------------------the huge upward spike remains but has steadied.....??
finance ----------- -------------trending up - continues
Consumer discretionary ---in o/a upward trend but on downward leg.
Consumer staples ---------- still in o/a upward trend, but the strong up leg has now been followed by an -------------------------------------- equally sharp down leg
Health -------------------------very strongly up – the spike continues
Industrials --------------------strong upward trend continues
information technology --- slightly down
utilities ------------------------ o/a upward trend continues, but on downward leg
property ---------------------- strong upward movement continues up and up - has been for 5 months
telecommunications -------strong upward movement continues and continues further
gold ----------------------------now in downward trend
the above assumed trends are based on applying a linear retracement band over a period of 2 months
