"INP, MINDX, IFN, EEM, EPP, UGL, AGQ, CEF, UCO, USO", "Miners and metals"
Equity markets in India and Singapore is testing the resistance and about to breakout. Dip buyers probably are eager to jump in and you can expect a bounce (a small one possibly) when there is a little pullback.
Buying pressure in Crude Oil might test its previous resistance at 115.
For the week starting February 20th, the market Sectors Returns (week over week) and Internals were the following:
SP 500: 2.17%
- Volatility Index % change, VIX = -13.23%
- Short term bond rate (average of 3 year and 5 year) = 0.65%
- 10 year Treasury yield = 2.01%
- Small Cap (IWM): 1.87%
- Latin America (ILF): 1.38%
- Europe (IEV): 1.64%
- Emerging Markets (EEM): 2.35%
- Commodities (DBC): 0.84%
- Long term Bonds (TLT): -0.35%
- US Dollar Index, 8 DMA: 79.26
- Gold, (GLD) change: 0.13%
- Put/Call Ratio, total of equity/Index = 0.75
- Bull/Bear Ratio, Investors Intelligence survey =
- NYSE (New Highs - New lows), 8 DMA = 216.14
Next Week's economic calendar:
- Existing Home sales - 2/22
- FHFA Home price index - 2/23
- New Home sales - 2/24
