Weekend Charting and Chat - 19th February 2016, page-4

Saturday Brunch. 20 February, 2016.

It's quiet in here. That's not a good sign for the market. Too much complacency.

In America:



DJ -0.13%. SP500 -0.00%. Nasdaq +0.38%. New York Composite -0.2%. Russell 2000 +0.53%. FDJ and SPX finished basically flat.
New Lows on the NYSE increased to 45 from 28 in the current session. That's not a serious escalation. The NH/NL Ratio is hovering around the mid=line at 43.8.

Dow Jones Chart:



Dow Jones is hovering just under major horizontal resistance. Today saw intra-day buying for the index to finish flat. That could have been influenced by Options Expiry stunts. Indicators are all looking positive - so another move up is in the realms of possibility. A lot of resistance remains overhead, so the going could be tough. The easy work, bounce off horizontal support, has been done. Now the DJ needs to climb a Wall of Worry.

Bonds:



The Ratio Chart of 10Yr/30Yr Bonds rose a little last night. It needs to rise above the pivot point point of Wednesday to confirm a Risk-On Market. MACD is right on the zero line. A move that would also point to a Risk-On Market.

Commodities:



UUP (U.S.$) down -0.28%. That didn't help most commodities, but Base Metals did well, +1.68%. That's a plus for our miners on Monday. DBC -0.88%, Energy -1.67%, GLD -0.6%. The Gold Price is at the mercy of the US$. If the US$ continues to appreciate we can expect Gold to fall.

Full Weekly Report tomorrow.

RB.