Banks trying to bounce

The All Ordinaries index was up 3.4% for the week, ending 8 February 2018. The index ended the week 0.6% above its 200 DMA, finishing the week above the 200 DMA for the first time since October 2018.

Of the 476 stocks currently comprising the index, 230 of these (48%) ended the week above their respective 100 DMAs, up from 198 (42%) names at the end of last week.  Two hundred eighty-seven stocks were up for the week, while 189 ended the week flat or down. Two hundred and six shares finished the week within 20% of their 52-week highs, with 65 of those within 5% of highs.

Read moreBanks trying to bounce

Gold showing strength

The All Ordinaries index was down 0.6% for the week, ending 1 February 2018. Having moved above its 100 DMA last week, it has spent the week consolidating just above. The index closed 2.7% below its 200 DMA. Of the 476 stocks currently comprising the index, only 198 of these (42%) ended the week above their respective 100 DMAs, up from 189 names at the end of last week.  Two hundred fifty-four stocks were up for the week, while 222 ended the week flat or down. One hundred and eighty-seven shares ended the week within 20% of their 52-week highs, while only 43 names are within 5% of highs.

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Consumer stocks an ominous sign for the economy

The All Ordinaries index finished the week ending January 25 up another 0.5%, taking the index above its 100 days moving average (DMA) for the first time since early October last year. The index also closed just 2% below its 200 DMA. Of the 474 stocks currently comprising the index, only 189 shares (40%) ended the week above their respective 100 DMAs. Two hundred forty-eight stocks were up for the week, while 226 names ended the week flat or down.

Read moreConsumer stocks an ominous sign for the economy

Technology and Health Care showing strength, risk on?

The All Ordinaries index was up 1.8% during the week ending 18 January 2019. This was an impressive move bringing total gains since the December 24 low to 6.9% and taking the index back up to within 3% of the 200 DMA, a significant level from an overall trend perspective.

As always it’s not the headline number that interests us but the numbers behind this number that gives us a better understanding of what’s driving the market at the more granular level of sectors and companies.

Read moreTechnology and Health Care showing strength, risk on?