Since the end of January PEG – Public Service Enterprise – has been moving above its 10-day exponential moving average and along the upper Bollinger Band, in a strong neat uptrend. This strong uptrend has kept MACD in a bullish mode, above its signal line. Finally, PEG’s Relative Strength is also moving up and away from tis ascending 20-day exponential moving average.
For about two months DLTR – the Dollar Tree, Inc. – was trading in a rather narrow range, within the blue box. Price eventually reached the lower Bollinger Band and stopped just above its 50-day exponential moving average. The gap and the impressive bullish candlesticks of the last two sessions, however, pushed price above its 20- and 50-day exponential moving averages, above the upper side of the blue box and above the upper Bollinger Band. This sudden bullish reversal has b
Throughout February, AES – AES Corp. – traded in a narrow range, in the blue box. Eventually price reached its 10- and 20-day exponential moving averages. At the same time, the low volatility caused the Bollinger Bands to narrow down. In the last three sessions, however, price action indicates that AES may break up and above the narrow range. Price in fact already reached the upper Bollinger Band, and in the next sessions we will see whether the bulls are strong enough to pus
In mid-February, UGA – the US Gasoline Fund – moved above the blue resistance line, After that UGA moves above its 10-day exponential moving average. What’s more, UGA’s 20- and 50-day exponential moving average are also trending up and diverging from each other, a sign of strong bullish trend. After a temporary momentum weakness, MACD is moving again above its signal line. Finally, UGA’s Relative Strength has also moving up and above its 20-day exponential moving average.
After mid-February, UUP – the Invesco DB US Dollar Bullish Fund – went through a minor correction that brought price as low as its 50-day exponential moving average. As we can see in the orange circle, the bulls reacted with decisiveness and with a series of bullish candlesticks sent price successively: Above its 10- and 20-day exponential moving averages Above the blue resistance line And finally, with an impressive bullish gap UUP above the upper Bollinger Band. Of course t
Despite the uncertainties of the last few sessions, EWA – the iShares MSCI Australia ETF – keeps moving between its 10-day exponential moving average and the upper Bollinger Band. Moreover, the ETF’s 20- and 50-day exponential moving averages are also moving up in a strong bullish trend. The rather weak momentum makes MACD move just below its signal line, but never diverging too much from it. EWA’s Relative Strength, on the other hand, has jumped away from its 20-day exponent
In mid-February UNG – US Natural Gas Fund - formed a double bottom pattern, in the blue circle. This is considered a bullish pattern and in this case theory met reality and UNG started moving up and above its 10-day exponential moving average. Currently UNG has reached the upper Bollinger Band and is ready to cross over its 50- day exponential moving average, that will mark officially an uptrend. MACD of course is already showing the upward momentum and moving in a positive
GDX – the VanEck Vectors Gold Miners ETF – is currently moving on its50-day exponential moving average just above the lower Bollinger Band. What is more, GDX is also testing the blue support line. Apart from that, however, MACD is moving below its signal line, which tells us that momentum is weak. GDX’s Relative Strength is also weak, as it moves below its 20-day exponential moving average, despite indications that it may trend up in the next few days.
Unaffected by the wider market weakness of the last sessions, XLU – the Utilities Select Sector SPDR Fund – keeps moving above its 10-day exponential moving average and below the upper Bollinger Band. What is more, the long lower tails of the candlesticks indicate that the bulls react decisively to any attempts by the bears to move price lower. Despite the above, however, MACD has reached its signal line, which indicates that momentum has lost its strength somehow. XLU’s Rela
Following the wider market correction, IWP – iShares Russell Mid-Cap Growth ETF - dropped below its 20-day exponential moving average after four consecutive bearish days. Of course MACD is also in negative regime, below its signal line, and IWP’s Relative Strength has dropped below its 20-day exponential moving average. We will follow IWP’s behavior in the next sessions, especially as it approaches the lower Bollinger Band, its 50-day exponential moving average and the blue s