Weekly Charts Updated
by Geoff Garbacz
Each week we highlight charts below of the SP500, Russell 2000, NASDAQ Composite, UUP, EEM, TLT, HYG,LQD and recently GLD. The charts use the 50 day moving average slope indicator. When it is green we like the instrument we are tracking and when it is red we avoid the name/sector/asset class.
CHARTS UPDATED BY THE OPEN
U.S. Equity indexes are now all negative. Emerging Markets are now negative as well. The U.S. Dollar has rallied. Bond ETFs are mixed with TLT up and LQD as well as HYG. GLD is the ETF that tracks the price of gold is now mixed./p>
Remember what matters is the slope of the 50 day moving average not the 50 day moving average itself. As mentioned above, bond holders should be defensive for the time being. That said, we note the dollar is in rally mode.
All charts are created from www.erlangerchartroom.com and if interested in using this indicator in Chart Room please feel free to send us an email by using the Contact Us section from the home page.
Charts courtesy of www.erlangerchartroom.com
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