Weeked Charting and Chat, page-6

Overnight:


Dow Jones +0.41%. SP500 +0.85%. Nasdaq +1.34%. Russell 2000 +0.87%. The market seemed focussed on better than expected employment numbers in the Jobs Report than the Trump trade war.
Volume continued to be low with traders having an extended 4th of July Holiday.

Dow Jones continues to be a concern. It is the only Index where the RSI remains under 50. It is also the only Index below the 20 and 50 Day SMAs. The others are above both those two indicators.

Dow Jones:



The short-term trend channel has turned up and indicators are all on buy signals, so the DJ might be OK.

The Index has now moved convincingly off the 200-Day EMA. It still has serious overhead resistance to contend with.

Commodities:



Base Metals +0.77%. Energy -0.12%. Gold -0.12%. Copper Miners +0.46%.

BHP was up +1.83% in NY. Rio was up +1.05%.

Those overnight results should support our market on Monday.

Full Weekly Report tomorrow.