Throughout May, HEI – Heico Corp. – moved almost horizontally in a low-volatility trendless regime. Then, suddenly with a huge gap and a big bullish candlestick price jumped by more than12% in a day. Although MACD has been in bullish territory since late January, the lack of momentum caused MACD to move downward and below its signal line. The last movement, though, sent MACD above its signal line for the first time since early April. Just as important, HEI’s Relative Strength

For about a month, AMD – Advanced Micro Devices – moves almost horizontally with low volatility. It’s a typical trendless regime, where price moves more or less along its 10- and 20-day exponential moving averages and between its Bollinger Bands. An interesting fact is that price hasn’t dropped below its 50-day exponential moving average or the lower Bollinger Band. This could indicate that there is resistance on behalf of the bulls, who may take the initiative and push price

VNQ – the Vanguard Real Estate ETF – has been moving in a bullish low-volatility trend for about three months. The two last sessions’ huge bearish candlesticks, however, brought price below its 10- and 20-day exponential moving average, which the last candlestick has also closed below the 50-day exponential moving average. The breakdown caused MACD, our momentum indicator, to move below its signal line, although it still moves in positive territory. Despite the above, VNQ’s R

Despite the two huge bearish candlesticks of the last two sessions that brought price below its 10- and 20-day exponential moving average, XLU – the Utilities Select Sector SPDR Fund - hasn’t moved below its 50-day exponential moving average yet. XLU’s MACD is still in bullish territory, although MACD is close to its signal line. As XLU 9s doing better than SPY since early May, its Relative Strength is moving up and above its 20-day exponential moving average.

As we can see in the chart, SPY – the SPDR S&P 500 ETF - has entered a bearish channel between its 10-day exponential moving average and the lower Bollinger Band. In fact, SPY has moved below its 20- and 50-day exponential moving averages since early May, in a bearish path with no obvious support lines. Our momentum indicator MACD has also depicted this bearish regime and it has moved to a negative territory and of course below its signal line.

Since early January PAYX – Paychex, Inc. – has been moving in a bullish channel mostly between its 10-day exponential moving average and the upper Bollinger Band. The 20- and the 50-day exponential moving averages slope up below each other and below the 10-day exponential moving average. As about the same time, PAYX’s Relative Strength also moved above its 20-day exponential moving average and is moving above its since then.

As we can see in the blue box, PHM – PulteGroup, Inc. – went through a trendless phase with price moving between 31 and 32. As soon as, though, price reached its 20-day exponential moving average the bulls decided to move price up again and pushed it to the upper Bollinger Band. It’s also important to note that since late March the 10-day exponential moving average is moving above the 20-day exponential moving average, which in turn moves above the 50-day exponential moving a

Since late January APD – Air Products and Chemicals, inc. – is moving mostly in a channel defined by its 10-day exponential moving average and the upper Bollinger Band. Apart from that, we can see that the 10- 20- and 50-day exponential moving averages are all sloping up and the faster moving average above the slower one. This is a sure sign of a strong uptrend. The last time price touched the 20-day exponential moving average, the blue line the reaction of the bulls indicate

Since the beginning of May, TLT – the iShares 20+ Year Treasury Bond ETF – is trading in a bullish channel between its 10-day exponential moving average and the upper Bollinger Band. What is more, the 20- and the 50-day exponential moving average trend up and below the 10-day exponential moving average. TLT’s MACD has followed this bullish buildup and has been moving above its signal line since early May. In a similar way, TLT’s Relative Strength is moving up and above its 20

As we can see in the blue box, XLC – the Communication Services Select Sector SPDR Fund – went through a retracement stage. This correction went as far as the lower Bollinger Band and the 50-day exponential moving average. At that phase, the bulls decided to take the initiative and the pushed price above the 10-day exponential moving average and close to the 20-day exponential moving average. Our momentum indicator, the MACD, stopped its downtrend and is approaching its signa