In America: Markets were flat. [IMG] Dow Jones -0.2, SP500...

In America:

Markets were flat.



Dow Jones -0.2, SP500 -0.08%, Nasdaq +0.09%, New York Composite -0.13%, Russell 2000 -0.06%. 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 94.8%. New Lows were insignificant at 9. NH/NL Ratio has been a good guide for remaining with the up trend.

SP500:



The Heiken-Ashi Chart for the SPX remains bullish but momentum has slowed. Some indicators are showing 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 up +0.76% after Energy (+1.91) did very well. DBC is having trouble, however, rising above horizontal resistance. Industrial Metals down -1.38%. Gold down -0.21%. We’re coming into a seasonally favourable period for Gold so it might be worth a punt.

The American market resembles a very old, clapped out car going up hill. It has been making progress in fits and starts, but one wonders how long before the engine conks out and the car starts rolling back down the hill.

RB.