Hello Iso,
Of the Indexes I follow, a larger than normal batch of them crossed above their 20, 50 or 200 DMA today.
200 DMA – 4 crossed, of note the Dow Jones Bond Index, Morgan Stanley Cyclical and Russell 2000.
50 DMA – 11 Crossed, of note the Morgan Stanley Cyclical, DJ Transport, SOX, and Nasdaq Transportation.
20 DMA – 20 Crossed, of note the DJ Transport, DJ Industrial, DJ 65, DJ Bond Average, S&P MidCap 400, SOX, and TYX.
None crossed below their 200 DMA. Two fell below their 50 DMA (VIX and VXN) and three below their 20 DMA (VIX, VXN and US Dollar). If one believes the VIX moves down as the market moves up, today could be seen as short term bullish.
Take care,
Eric |
