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US Technical Charts Potpourri
July 16 2017 ( From TradingView, CNN Money )
July 16 2017 ( From TradingView, CNN Money )
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The SP500 Index behavior of the past 4 weeks is in fact hiding a huge
sector rotation that is under way; technology sector weakness being replace
by a strong industrial and material sectors (new high ever last week).
Some Weekly Technical Charts and Short Comments on US financial products:
1) SPY ETF (SPDR S&P 500 ETF) Nwe High Ever and broke last week a Weekly
Downtrend Channel Resistance. Into a Weekly Rising Channel.
(See first chartbelow - Channel + Red trendlines)
2) VTI ETF (Vanguard Total Stock Market ETF) comprised of 3591 US Stocks
(Total Market Index) is now testing the previous Weekly breakout Trendline
from April 2016.(See second chart below - Top Grey Trendline). Into Rising Wedge.
3) QQQ ETF (NASDAQ - 100 Index) Back Into the Weekly Uptrend Channel
that started in December 2016. (See third chart below - Channel).
4) Apple Shares (AAPL) broke 6 weeks ago the previous Weekly Breakout
Trendline. (See fourth chart below - Right - Red Trendline) Becomes Major
Resistance Trendline that Bears need to protect at all costs. Broke the
Weekly Downtrend Channel. Into a New Weekly Megaphone. (Grey Trendlines)
5) DXY Index (US Dollar Index) broke 11 weeks ago the Support Trendline (See fifth chart below - Blue Trendline) and broke 9 weeks ago the Weekly Falling Wedge Support (Red Trendlines). Still into a Weekly Downtrend Channel.
Lowest Weekly close since August 2016.
6) TLT ETF (iShares 20+ Year Treasury Bond ETF) broke a Weekly Rising Channel Support Trendline 2 weeks ago. (See sixth chart below - Channel) Closed below the 12 WMA (Weekly Moving Avg-red line).
7) VIX Index (SP500 Volatility-CBOE) strong weekly compression within a Falling Wedge that started since August 2015. (See seventh chart below - Grey Trendlines). Lowest Weekly close since December 1993.
8) Copper Futures (HG2-COMEX) broke 7 weeks ago a Weekly Resistance Trendline of a Downtrend Channel. Now into a Weekly Uptrend Channel. (See eight chart below-Channel)
9) Light Crude Oil Futures (CL2-NYMEX) Since breaking the Old Weekly Rising Wedge Support Pattern 6 weeks ago, into a Weekly Downtrend Channel. Near the Resistance. (See ninth chart below - Grey Trendline).
Sectors rotation from Technology stocks to Health Care, Industrials and Materials made a brand new high for the Mighty SP500 Index.
sector rotation that is under way; technology sector weakness being replace
by a strong industrial and material sectors (new high ever last week).
Some Weekly Technical Charts and Short Comments on US financial products:
1) SPY ETF (SPDR S&P 500 ETF) Nwe High Ever and broke last week a Weekly
Downtrend Channel Resistance. Into a Weekly Rising Channel.
(See first chartbelow - Channel + Red trendlines)
2) VTI ETF (Vanguard Total Stock Market ETF) comprised of 3591 US Stocks
(Total Market Index) is now testing the previous Weekly breakout Trendline
from April 2016.(See second chart below - Top Grey Trendline). Into Rising Wedge.
3) QQQ ETF (NASDAQ - 100 Index) Back Into the Weekly Uptrend Channel
that started in December 2016. (See third chart below - Channel).
4) Apple Shares (AAPL) broke 6 weeks ago the previous Weekly Breakout
Trendline. (See fourth chart below - Right - Red Trendline) Becomes Major
Resistance Trendline that Bears need to protect at all costs. Broke the
Weekly Downtrend Channel. Into a New Weekly Megaphone. (Grey Trendlines)
5) DXY Index (US Dollar Index) broke 11 weeks ago the Support Trendline (See fifth chart below - Blue Trendline) and broke 9 weeks ago the Weekly Falling Wedge Support (Red Trendlines). Still into a Weekly Downtrend Channel.
Lowest Weekly close since August 2016.
6) TLT ETF (iShares 20+ Year Treasury Bond ETF) broke a Weekly Rising Channel Support Trendline 2 weeks ago. (See sixth chart below - Channel) Closed below the 12 WMA (Weekly Moving Avg-red line).
7) VIX Index (SP500 Volatility-CBOE) strong weekly compression within a Falling Wedge that started since August 2015. (See seventh chart below - Grey Trendlines). Lowest Weekly close since December 1993.
8) Copper Futures (HG2-COMEX) broke 7 weeks ago a Weekly Resistance Trendline of a Downtrend Channel. Now into a Weekly Uptrend Channel. (See eight chart below-Channel)
9) Light Crude Oil Futures (CL2-NYMEX) Since breaking the Old Weekly Rising Wedge Support Pattern 6 weeks ago, into a Weekly Downtrend Channel. Near the Resistance. (See ninth chart below - Grey Trendline).
Sectors rotation from Technology stocks to Health Care, Industrials and Materials made a brand new high for the Mighty SP500 Index.
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"To fight and conquer in all your battles is not supreme excellence; supreme excellence consists in breaking the enemy's resistance without fighting."
-Sun Tzu, the Art of War
-Sun Tzu, the Art of War
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SPY ETF Volume ( Bottom Panel - Blue Area )
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Copper Futures ( HG2 )
Volume ( Bottom Blue Area )
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Volume ( Bottom Blue Area )
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Weekly Chart ( Candles )
US Dollar Index ( DXY )
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Vanguard Total Stock Market ETF ( VTI ETF )
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Weekly Chart
NASDAQ 100 Index ( QQQ ETF - Candles)
NASDAQ 100 Index ( QQQ ETF - Candles)
Weekly Chart
Apple Shares ( AAPL )
Volume ( Bottom Panel - Blue Area )
Apple Shares ( AAPL )
Volume ( Bottom Panel - Blue Area )
Weekly Chart ( Candles )
CBOE SP500 Index Volatility ( VIX )
CBOE SP500 Index Volatility ( VIX )
Weekly Chart ( Candles )
Oil Futures ( CL2 )
Volume ( Bottom Blue Area )
Oil Futures ( CL2 )
Volume ( Bottom Blue Area )
