The DB Commodities Index Tracking ETF (DBC), Long and Bullish, today is doing another in a long term series of breakouts. $17.23 is the breakout point, which is the February High. The ETF is trading 15.5% above the S&P 500 Index (SPX), over a 200 day moving average. The ETF is trading in excess of an 80% annualized rate of growth over a 200 day moving average. The component crude oil contract is juicing the commodity index.
The DB Commodities Index Tracking ETF (DBC):
The Nasdaq 100 Index (NDX), Long or Bullish, but continues to deteriorate – the short and long term MACDs continue negative. Again, today, we can see that the index is trading under the former support and now resistance of the February low of $12,760.
Nasdaq 100 Index (NDX):
The Nasdaq 100 Index (NDX), Long or Bullish, but deteriorating quickly – the short and long term MACDs turned negative a few days ago. Today, we can see that the index is trading under the February low of $12,760.
So the sector and industry shift is out of technology stocks and into stocks such as energy, and industrial metals, such as Freeport McMoran (FCX) as noted in a previous post.
Nasdaq 100 Index (NDX):
SPDR S&P Oil and Gas Exploration & Production ETF (XOP) is trading, over a 200 day moving average, approximately 38% above The S&P 500 Index (SPX). And The XOP is trading well in excess of a 100% annualized rate of growth, over a 200 day moving average.
Comments welcome. Need the charts?
The Philadelphia Semiconductor Index ETF (SOXX) is Bullish, although losing momentum on the MACD – both long and short term. The ETF is trading approximately 17% above the S&P 500 Index over a 200 day moving average. So after this pullback, or dip, we’ll look for the MACDs to go Positive. The next Break out is resistance at the all time high at $444.00.
The breakout area is shown on the stock chart below:
The SPDR Gold ETF (GLD) continues on it’s Bear market (short term, medium term, long term). Today The ETF plunges through, yet another long term support area at $166.00. The long term pattern of Lower Highs and Lower Lows is almost text book.
SPDR Gold ETF (GLD)
Comments welcome.
The Gold Miners Index ETF (GDX) continues on it’s Bear market (short term, medium term, long term). Today The ETF plunges through, yet another long term support area at $31.22. The long term pattern of Lower Highs and Lower Lows is almost text book.
Gold Miners ETF (GDX)
Comments welcome.
Looking at a 200 day relative strength moving average of Freeport McMoran (FCX) vs. The S&P 500 Index (SPX), it is trading 90% above. The number 2 ranked stock is Discovery Inc. (DISCA) at 75% above. Tesla (TSLA) ranks number 10, at 49% above the 200 day relative to The S&P, and is strongly deteriorating.
Freeport McMoran (FCX).
Discovery Inc. (DISCA)
Tesla (TSLA)
Comments welcome.
…and Boise Cascade (BCC) appears to be topped out on the weekly chart, with resistance at $53.36. The High for the month of January was $53.32. This is a similar concept with all the commodities related stocks. Freeport McMoran (FCX), a copper miner, is at all time highs and so is the copper commodity.
Comments welcome.
Boise Cascade (BCC) weekly
Freeport McMoran (FCX) weekly
S&P 500 Index ETF (SPY) is above the 200-day Moving Average Trend of a 20% annualized rate of growth: Signal – Bullish for the S&P 500 Index
Dow Jones Industrial 30 Index ETF (DIA) is above the 200-day Moving Average Trend of a 20% annualized rate of growth: Signal – Bullish for the Dow Jones 30 Index
Nasdaq 100 Index ETF (QQQ) is above the 200-day Moving Average Trend of a 20% annualized rate of growth: Signal – Bullish for the Nasdaq 100 Index
Russell 2000 Small Cap Index ETF (IWM) is above the 200-day Moving Average Trend of a 20% annualized rate of growth: Signal – Bullish for the Russell 2000 Small Cap Index
Emerging Markets Index ETF (IWM) is above the 200-day Moving Average Trend of a 20% annualized rate of growth: Signal – Bullish for the Emerging Markets Index
Gold Miners Index ETF (GDX) is below the 200-day Moving Average Trend of a 20% annualized rate of growth: Signal – Bearish for the Gold Miners Index
Gold ETF (GLD) is below the 200-day Moving Average Trend of a 20% annualized rate of growth: Signal – Avoid for gold
Silver (SLV) is above the 200-day Moving Average Trend of a 20% annualized rate of growth: Signal – Long for silver
Platinum ETF (PPLT) is above the 200-day Moving Average Trend of a 20% annualized rate of growth: Signal – Long for platinum
Crude Oil ETF (USO) is above the 200-day Moving Average Trend of a 20% annualized rate of growth: Signal – Long for crude oil
US 20 Year + Treasury Bond Index ETF (TLT) is below the 200-day Moving Average Trend of a 20% annualized rate of growth: Signal – Avoid for Treasury Bonds
Short US 20 Year+ Treasury Bond Index ETF (TBF) is above the 200-day Moving Average Trend of a 20% annualized rate of growth: Signal – Long for Short Treasury Bonds
Commodity Index ETF (GSG) is above the 200-day Moving Average Trend of a 20% annualized rate of growth: Signal – Long for Commodity Index
