Index Trend Analysis Report
Prepared for you on Friday, January 17, 2020.
S&P/CSE Materials Industry Group Index (CME:SPCSEMIP)
Smart Scan Chart Analysis shows that negative longer term is strengthening. The market action could signal the start of a major trend change Weak Downtrend Very tight money management stops.
The Trade Triangles are generated using a proprietary algorithm that is comprised of weighted factors that include, but are not limited to - price change, percentage change, moving averages, and new highs/lows. The MarketClub trading strategy is based on the triangles, learn more here.
MarketClub’s Trade Triangles for SPCSEMIP
The long term trend has been UP since Oct 10th, 2019 at 587.72
The intermediate term trend has been DOWN since Dec 16th, 2019 at 675.99
The short term trend has been DOWN since Jan 6th, 2020 at 679.26
Smart Scan Analysis for SPCSEMIP
Based on a pre-defined weighted trend formula for chart analysis, SPCSEMIP scored -70 on a scale from -100 (strong downtrend) to +100 (strong uptrend).