- 6 Major Indices
- 9 Major Sectors
- Social Media Stocks
- German, French, & PIIGS Indices
- Emerging Markets ETF & BRIC Indices & ETF
- Other World Indices
- Major Currencies
- 30-Year Bonds
- U.S. $
6 Major Indices
9 Major Sectors
Social Media Stocks
German, French, & PIIGS Indices
Emerging Markets ETF & BRIC Indices & ETF
Other World Indices
The second graph shows the gains made this past week. While Canada lagged behind even the World Index, Australia also made only minor gains. These two commodity-producing countries are the ones to watch going forward, along with Commodities, which I'll be discussing below.
Below are 2 graphs showing percentage gained/lost for the Commodities ETF (DBC), the Agricultural ETF (DBA), Gold, Oil, Copper, and Silver.
The second graph shows the gains/losses made this past week. Money flowed into Silver, Oil, and the Commodities ETF, while Agriculture, Gold, and Copper were flat.
I last wrote about Commodities on March 5th. There are additional charts and ratio charts shown in that post that I'll be monitoring over the coming days/weeks to gauge weakness or strength in Commodities, as well as the Aussie $ (which I'll be discussing below).
Below are 2 graphs showing percentage gained/lost for the major Currencies.
The second graph shows the gains/losses made this past week. Money began flowing into the Aussie $, while the Canadian $ and the Euro were flat...ones to watch, along with Australia, China, Canada, and Commodities as a gauge of further strength or weakness in commodity production and consumption.
The 5-Year Weekly chart below of 30-Year Bonds shows that price finally broke and closed below what I'd now call a weekly bear flag. Price is now sitting at the lower Bollinger Band and just above the next support level. A break and hold below that could send price tumbling on increasing momentum. High volumes, of late, show the level of buying/selling that has occurred within these Bonds. Should this high level continue on a further drop, no doubt, we'll see the selling pace accelerate. It's, potentially, a signal that money is flowing out of Bonds to be deployed into equities, and/or commodities, and/or currencies, and/or other instruments.
As shown on the 5-Year Weekly chart below of the U.S. $, price continued to rally this past week to close at the 61.8% Fibonacci level of 82.77. A hold above this level could see price climb further to its next resistance level at 83.45.
In summary, last week we saw a wild swing in Asian markets, an increase in intraday volatility and volumes in Small-Caps, considerable activity in the EUR/USD Forex pair, and a range breakout in the YM, ES, NQ & TF as the Dow 30 set new all-time highs.
This coming Friday is Quadruple Witching Options Expiration. We could see some wild swings in various Sectors as profits are taken and portfolios rebalanced, and in preparation for the results of the next FOMC meeting on March 19/20 (NOTE: the results are being released on March 20th at 12:30 pm EST, and will be followed by the release of FOMC Economic Projections at 2:00 pm EST, and Ben Bernanke's press conference at 2:15 pm EST).
As mentioned above, I'll be watching to see if buying picks up in the Technology and Materials Sectors, if buying continues in Financials and the higher-beta sectors and social media stocks, if buying picks up in Italy and Greece, if buying picks up in Brazil, Russia and China, if buying picks up in Canada and Australia and their currencies, as well as in Commodities, if selling continues in 30-Year Bonds, and if buying continues in the U.S. $ (presumably as a hedge against further risk to the upside). If such buying occurs, no doubt, we'll see the S&P 500 Index also make a new life-time high (the current high is 1576.09). In any event, I'll be monitoring the price action of the YM, ES, NQ & TF within their 4-Hour channels to gauge strength (above the 50% channel level) and weakness (below the 50% level).
Have a great weekend and good luck next week!