Saturday Morning Joe. 6 August, 2016.
In America:
Jobs Report - and the Indices go POP! Dow Jones +1.04%, SP500 +0.86%, Nasdaq +1.06%, NY Composite +0.71%, Russell2000 +1.45%. Stochastic RSI on all indices is back in bullish territory for all.
NYSE NewHigh/NewLow Ratio remains bullish at 98.4%. New Lows were insignificant at 4. NH/NL has been a good indicator to keep you in the market during the current consolidation and then pull-back. It has never deviated from a bullish reading, and the number of New Lows has never looked threatening.
SP500:
The Heiken-Ashi Chart for the SPX is back to a bullish reading. MFI and short-term Stochastic are both showing the potential for a negative divergence. Too early to tell if that will work out. All indicators have turned back up and most are above the mid-line of their Bollinger Bands. The short-term trend is up.
Commodities:
DBC, the Commodities Index tracking ETF, up +0.42%. It is now bullish, bouncing off support after being seriously oversold. Plenty of resistance lies overhead which might slow up the chart, or turn it back down. We'll see how it goes. In the meantime, the short term trend is up. Energy was flat +0.00% and Industrial Metals up +0.59%. Gold down heavily +1.79%.
Full weekly report tomorrow.
RB.
Add to My Watchlist
What is My Watchlist?
 (20min delay)
|
|||||
|
Last
8,570.4 |
Change
-9.700(0.11%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,580.1 | 8,593.6 | 8,558.3 |
| XJO (ASX) Chart |