Interesting charts October 5th 2016
SPDR Utilities Index – With bond yields beginning to rise, “bond proxies” like the Utilities ETF, which yields 3.47%, has now broken to a new low and is trading below its trend mean. A clear upward dynamic will be required to stem the decline.
DJ Euro STOXX 50 – continues to trade at the upper side of this year’s range and in the region of the trend mean. A breakout to new recovery highs will be required to signal a return to medium-term demand dominance.
Hong Kong Hang Seng Index – continues to firm within its short-term range and while overextended relative to the trend mean a sustained move below 23,000 would be required to question potential for additional upside.
