Weekend April 2 2017
Tensions Rise in Venezuela
Resistance to Pipelines Broadens
Wider War Waged in Gorsuch Fight
Ouster of Finance Chief Spurs South Africa Revolt
Few Wins for Trump So Far
India, Pakistan Escalate Nuclear Arms Race
China Digs in on Trade
This is a sample of headlines from Friday's WSJ. Mood is trending negative world wide as stock markets have climbed.
John Murphy at Stockcharts.com cites this stat as supportive of the continued bull market.Yes it is necessary for over 50% of stocks to be over the 200 day MA. That is the definition of bull market. On the other hand, this indicator has reached the levels where it has previously exhausted and retreated.
Transports versus Utilities
Transports are trending lower than utilities so investors are getting more defensive.
Discretionary vs Staples XLY to XLP
Discretionary items are out of favor to staple items, another defensive item. And notice the last two charts topped on
the same week in early December.
Five Year Yield
The moving averages are catching up with the big move in yields to the upside. Once they come together, expect higher rates.
The FED is following not leading this market.
Enbridge Energy Partners
EEP dropped on merger news and the expectation of a dividend cut. Still at 13% now, even a cut will leave a nice payment. EEP is attracting analyst recommendations. MAs are turning up.
Oil bounced right at its uptrend line. This is carrying energy issues as well as energy service higher.
XES Energy Service
XES is bouncing and re bounding at its uptrend line as well.
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