Chemicals Industry

Monitor and predict the growth prospects and potential risks of the Chemicals industry by examining the financial and macroeconomic factors affecting it and the latest Chemicals news tracked by MacroVar. Sign Up Free to get notified instantly on the latest Chemicals updates and get full access to MacroVar advanced analytics of Global Financial Markets, Economies and Financial Risk.

Click to explore the factors and the financial models used by MacroVar to analyze the Chemicals industry trend, growth prospects and risks.

Chemicals Industry Markets

Market Symbol Last Mom Trend Exh RSI 1D% 1W% 1M% 1Y%
US Chemicals industry US.CHEMICALS 838.2 0.5 0 -0.29238 57.9515 0.00681 0.06315 0.01424 0.03316
Europe Chemicals industry EU.CHEMICALS 2171.08 0.5 0.75 1.13989 48.4278 0.00431 -0.00751 0.00131 0.19911
STOXX Asia Pacific 600 Chemicals APAC.CHEMICALS 238.98 0 -0.75 -0.95149 53.8265 0.00602 0.01173 -0.00029 -0.07815
Eastern Europe Chemicals EEU.CHEMICALS 79.99 0 -1 -4.06338 29.7106 0.00326 0.03735 -0.33158 -0.41019
US Chemicals Credit Spreads US.CHEMICALS.CR 175.09 0.5 0.75 2.39228 46.7845 0.00269 -0.07954 0.03097 0.38663
Europe Chemicals Credit Spreads EU.CHEMICALS.CR 139.02 0 1 3.18039 68.8808 -0.00551 -0.0262 0.1999 0.64872

Chemicals Industry News

Chemicals Industry Analysis

MacroVar monitors the performance, risk, trend and momentum of the Chemicals industry by examining the stock and credit performance of major Chemicals companies across the US, Europe, Eastern Europe and Asia Pacific. Chemicals Stock performance is monitored by analyzing STOXX equity indices of major Chemicals companies while Chemicals credit performance is monitored by analyzing Markit iBoxx credit indices reflecting the performance of the Chemicals high yield corporate bond market.

MacroVar also monitors fundamental indicators closely linked to the Chemicals sector published monthly including analysis of sector specific PMI indicators, components of Manufacturing & Services PMI and Economic Sentiment Indicators analysis.

MacroVar also monitors other factors closely related to the Chemicals industry like closely related financial markets or macroeconmic indicators.

MacroVar estimates the following signals:: Chemicals momentum, Chemicals trend, Chemicals oscillator, Chemicals RSI and Chemicals returns.

Chemicals description

The Chemicals sector includes the subsectors of Commodity Chemicals and Specialty Chemicals. The Commodity Chemicals subsector includes the production and distribution of simple chemical products that are primarily used to formulate more complex chemicals or products, including plastics and rubber in their raw form, fiberglass and synthetic fibers. The Specialty Chemicals subsector includes the production and distribution of finished chemicals for industries or end users, including dyes, cellular polymers, coatings, special plastics and other chemicals for specialized applications. Includes makers of colorings, flavors and fragrances, fertilizers, pesticides, chemicals used to make drugs, paint in its pigment form and glass in its unfinished form. Excludes producers of paint and glass products used for construction, which are classified under Building Materials & Fixtures.

Chemicals Momentum

Momentum is used to capture moves in shorter timeframes than trends. Momentum is the relative change occurring in markets. Relative change is different to a trend. A long-term trend can be up but the short-term momentum of a specific market can be 0. If a market moves down and then moves up and then moves back down the net relative change in price is 0. That means momentum is 0. A short-term positive momentum, with a long-term downtrend results in markets with no momentum.

MacroVar Chemicals momentum signal ranges from -100 to +100. The Chemicals momentum signal is derived as the mean value from 4 calculations for the Chemicals . The timeframes monitored are the following: 1 Day (1 trading day), 1 Week (5 trading days), 1 Month (20 trading days), 3 Months (60 trading days)
For each timeframe, the following calculations are performed: 1. Chemicals return is calculated for the specific timeframe and 2. if the return calculated is higher than 0, signal value output is 1 else signal value is -1. Chemicals momentum signal is the aggregate of the the 4 values. A technical momentum rollover is identified when Chemicals momentum signal moves from positive to negative value or vice-versa.

Chemicals trend

Chemicals trend signal ranges from -100 to +100. Chemicals trend indicator is the mean value of the 8 calculations described below. The timeframes monitored are the following: 1-month (20 trading days), 3-months (60 trading days), 6-months (125 trading days), 1-year (250 trading days)
For each timeframe, the following calculations are performed: 1. Chemicals Closing price vs Chemicals moving average (MA) calculation: If Chemicals is greater than Chemicals MA value is +1, else -1, 2. Chemicals Moving average slope calculation: if current Chemicals moving average is higher than the previous MA, Chemicals upward slope +1, else -1
Chemicals trend model can be used as a trend strength indicator. Chemicals trend strength values ranging between +75 and +100 or -75 and -100 show strong trend strength.
A technical trend rollover is identified when Chemicals trend strength indicator moves from positive to negative value or vice-versa.

The most important trend indicator
The Chemicals 52-week simple moving average and its slope are the most important indicators defining a market’s trend. Chemicals is in an uptrend when Chemicals price is higher than the 52-week moving average and the Chemicals 52-week moving average has an upward slope. If fundamentals of the market have not changed and the moving average slope is still in uptrend, a price drop signifies a market correction and not a change of trend. Traders should watch oscillators like the Chemicals oscillator and Chemicals RSI to buy the dip and still follow the trend. The moving average slope turn signifies a change of trend.

Chemicals oscillator

The Chemicals oscillator estimated by MacroVar is the z-score of the currentChemicals price versus Chemicals 1-year simple moving average price. The formula for the Chemicals oscillator is:
Chemicals oscillator = (Current Price – 250 trading days Chemicals simple moving average price) / (250 days Chemicals price standard deviation)

Chemicals oversold conditions
Chemicals is oversold when it is subject to a persistent downward pressure due to extreme fund outflows. When the Chemicals is oversold it is often due for a rebound. Values of the Chemicals oscillator lower than -2.5 signify oversold conditions. It must be noted that the Chemicals oscillator must be analyzed ibn conjunction with the rest ofChemicals quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the Chemicals RSI.
Chemicals overbought conditions
Chemicals is overbought when it is subject to a persistent upward pressure due to extreme fund inflows. When the Chemicals is overbought it is often due for a correction. Values of the Chemicals oscillator higher than +2.5 signify overbought conditions. It must be noted that the MacroVar oscillator must be compared to the rest of the Chemicals quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the RSI.

Chemicals RSI indicator

The RSI indicator measures the speed and change of price movements. The RSI indicator oscillates between 0 and 100. RSI is a useful indicator during normal trending market conditions when an asset price oscillates around its trend value. During big moves and strong trends however, like short squeezes or price spikes RSI and other oscillators don’t work.
During normal trend market conditions and when Chemicals is in a downtrend RSI values between 50-60 signify overbought conditions before the downtrend is ready to resume. DuringChemicals uptrend, RSI values of 40 to 50 signify oversold conditions before the uptrend is ready to resume. It is strongly not recommended to enter a position when the RSI is “overbought” and falling or vice versa.

Chemicals returns

MacroVar calculates Chemicals returns for the following timeframes: Daily, Weekly, Monthly, Yearly. The formula for calculating returns is:

Chemicals returns = (Chemicals Closing Price – Chemicals Previous Price)/(Chemicals Previous Price)

Chemicals Industry

Monitor and predict the growth prospects and potential risks of the Chemicals industry by examining the financial and macroeconomic factors affecting it and the latest Chemicals news tracked by MacroVar. Sign Up Free to get notified instantly on the latest Chemicals updates and get full access to MacroVar advanced analytics of Global Financial Markets, Economies and Financial Risk.

Click to explore the factors and the financial models used by MacroVar to analyze the Chemicals industry trend, growth prospects and risks.

Chemicals Industry Markets

Market Symbol Last Mom Trend Exh RSI 1D% 1W% 1M% 1Y%
US Chemicals industry US.CHEMICALS 838.2 0.5 0 -0.29238 57.9515 0.00681 0.06315 0.01424 0.03316
Europe Chemicals industry EU.CHEMICALS 2171.08 0.5 0.75 1.13989 48.4278 0.00431 -0.00751 0.00131 0.19911
STOXX Asia Pacific 600 Chemicals APAC.CHEMICALS 238.98 0 -0.75 -0.95149 53.8265 0.00602 0.01173 -0.00029 -0.07815
Eastern Europe Chemicals EEU.CHEMICALS 79.99 0 -1 -4.06338 29.7106 0.00326 0.03735 -0.33158 -0.41019
US Chemicals Credit Spreads US.CHEMICALS.CR 175.09 0.5 0.75 2.39228 46.7845 0.00269 -0.07954 0.03097 0.38663
Europe Chemicals Credit Spreads EU.CHEMICALS.CR 139.02 0 1 3.18039 68.8808 -0.00551 -0.0262 0.1999 0.64872

Chemicals Industry News

Chemicals Industry Analysis

MacroVar monitors the performance, risk, trend and momentum of the Chemicals industry by examining the stock and credit performance of major Chemicals companies across the US, Europe, Eastern Europe and Asia Pacific. Chemicals Stock performance is monitored by analyzing STOXX equity indices of major Chemicals companies while Chemicals credit performance is monitored by analyzing Markit iBoxx credit indices reflecting the performance of the Chemicals high yield corporate bond market.

MacroVar also monitors fundamental indicators closely linked to the Chemicals sector published monthly including analysis of sector specific PMI indicators, components of Manufacturing & Services PMI and Economic Sentiment Indicators analysis.

MacroVar also monitors other factors closely related to the Chemicals industry like closely related financial markets or macroeconmic indicators.

MacroVar estimates the following signals:: Chemicals momentum, Chemicals trend, Chemicals oscillator, Chemicals RSI and Chemicals returns.

Chemicals description

The Chemicals sector includes the subsectors of Commodity Chemicals and Specialty Chemicals. The Commodity Chemicals subsector includes the production and distribution of simple chemical products that are primarily used to formulate more complex chemicals or products, including plastics and rubber in their raw form, fiberglass and synthetic fibers. The Specialty Chemicals subsector includes the production and distribution of finished chemicals for industries or end users, including dyes, cellular polymers, coatings, special plastics and other chemicals for specialized applications. Includes makers of colorings, flavors and fragrances, fertilizers, pesticides, chemicals used to make drugs, paint in its pigment form and glass in its unfinished form. Excludes producers of paint and glass products used for construction, which are classified under Building Materials & Fixtures.

Chemicals Momentum

Momentum is used to capture moves in shorter timeframes than trends. Momentum is the relative change occurring in markets. Relative change is different to a trend. A long-term trend can be up but the short-term momentum of a specific market can be 0. If a market moves down and then moves up and then moves back down the net relative change in price is 0. That means momentum is 0. A short-term positive momentum, with a long-term downtrend results in markets with no momentum.

MacroVar Chemicals momentum signal ranges from -100 to +100. The Chemicals momentum signal is derived as the mean value from 4 calculations for the Chemicals . The timeframes monitored are the following: 1 Day (1 trading day), 1 Week (5 trading days), 1 Month (20 trading days), 3 Months (60 trading days)
For each timeframe, the following calculations are performed: 1. Chemicals return is calculated for the specific timeframe and 2. if the return calculated is higher than 0, signal value output is 1 else signal value is -1. Chemicals momentum signal is the aggregate of the the 4 values. A technical momentum rollover is identified when Chemicals momentum signal moves from positive to negative value or vice-versa.

Chemicals trend

Chemicals trend signal ranges from -100 to +100. Chemicals trend indicator is the mean value of the 8 calculations described below. The timeframes monitored are the following: 1-month (20 trading days), 3-months (60 trading days), 6-months (125 trading days), 1-year (250 trading days)
For each timeframe, the following calculations are performed: 1. Chemicals Closing price vs Chemicals moving average (MA) calculation: If Chemicals is greater than Chemicals MA value is +1, else -1, 2. Chemicals Moving average slope calculation: if current Chemicals moving average is higher than the previous MA, Chemicals upward slope +1, else -1
Chemicals trend model can be used as a trend strength indicator. Chemicals trend strength values ranging between +75 and +100 or -75 and -100 show strong trend strength.
A technical trend rollover is identified when Chemicals trend strength indicator moves from positive to negative value or vice-versa.

The most important trend indicator
The Chemicals 52-week simple moving average and its slope are the most important indicators defining a market’s trend. Chemicals is in an uptrend when Chemicals price is higher than the 52-week moving average and the Chemicals 52-week moving average has an upward slope. If fundamentals of the market have not changed and the moving average slope is still in uptrend, a price drop signifies a market correction and not a change of trend. Traders should watch oscillators like the Chemicals oscillator and Chemicals RSI to buy the dip and still follow the trend. The moving average slope turn signifies a change of trend.

Chemicals oscillator

The Chemicals oscillator estimated by MacroVar is the z-score of the currentChemicals price versus Chemicals 1-year simple moving average price. The formula for the Chemicals oscillator is:
Chemicals oscillator = (Current Price – 250 trading days Chemicals simple moving average price) / (250 days Chemicals price standard deviation)

Chemicals oversold conditions
Chemicals is oversold when it is subject to a persistent downward pressure due to extreme fund outflows. When the Chemicals is oversold it is often due for a rebound. Values of the Chemicals oscillator lower than -2.5 signify oversold conditions. It must be noted that the Chemicals oscillator must be analyzed ibn conjunction with the rest ofChemicals quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the Chemicals RSI.
Chemicals overbought conditions
Chemicals is overbought when it is subject to a persistent upward pressure due to extreme fund inflows. When the Chemicals is overbought it is often due for a correction. Values of the Chemicals oscillator higher than +2.5 signify overbought conditions. It must be noted that the MacroVar oscillator must be compared to the rest of the Chemicals quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the RSI.

Chemicals RSI indicator

The RSI indicator measures the speed and change of price movements. The RSI indicator oscillates between 0 and 100. RSI is a useful indicator during normal trending market conditions when an asset price oscillates around its trend value. During big moves and strong trends however, like short squeezes or price spikes RSI and other oscillators don’t work.
During normal trend market conditions and when Chemicals is in a downtrend RSI values between 50-60 signify overbought conditions before the downtrend is ready to resume. DuringChemicals uptrend, RSI values of 40 to 50 signify oversold conditions before the uptrend is ready to resume. It is strongly not recommended to enter a position when the RSI is “overbought” and falling or vice versa.

Chemicals returns

MacroVar calculates Chemicals returns for the following timeframes: Daily, Weekly, Monthly, Yearly. The formula for calculating returns is:

Chemicals returns = (Chemicals Closing Price – Chemicals Previous Price)/(Chemicals Previous Price)

Chemicals Industry

Monitor and predict the growth prospects and potential risks of the Chemicals industry by examining the financial and macroeconomic factors affecting it and the latest Chemicals news tracked by MacroVar. Sign Up Free to get notified instantly on the latest Chemicals updates and get full access to MacroVar advanced analytics of Global Financial Markets, Economies and Financial Risk.

Click to explore the factors and the financial models used by MacroVar to analyze the Chemicals industry trend, growth prospects and risks.

Chemicals Industry Markets

Market Symbol Last Mom Trend Exh RSI 1D% 1W% 1M% 1Y%
US Chemicals industry US.CHEMICALS 838.2 0.5 0 -0.29238 57.9515 0.00681 0.06315 0.01424 0.03316
Europe Chemicals industry EU.CHEMICALS 2171.08 0.5 0.75 1.13989 48.4278 0.00431 -0.00751 0.00131 0.19911
STOXX Asia Pacific 600 Chemicals APAC.CHEMICALS 238.98 0 -0.75 -0.95149 53.8265 0.00602 0.01173 -0.00029 -0.07815
Eastern Europe Chemicals EEU.CHEMICALS 79.99 0 -1 -4.06338 29.7106 0.00326 0.03735 -0.33158 -0.41019
US Chemicals Credit Spreads US.CHEMICALS.CR 175.09 0.5 0.75 2.39228 46.7845 0.00269 -0.07954 0.03097 0.38663
Europe Chemicals Credit Spreads EU.CHEMICALS.CR 139.02 0 1 3.18039 68.8808 -0.00551 -0.0262 0.1999 0.64872

Chemicals Industry News

Chemicals Industry Analysis

MacroVar monitors the performance, risk, trend and momentum of the Chemicals industry by examining the stock and credit performance of major Chemicals companies across the US, Europe, Eastern Europe and Asia Pacific. Chemicals Stock performance is monitored by analyzing STOXX equity indices of major Chemicals companies while Chemicals credit performance is monitored by analyzing Markit iBoxx credit indices reflecting the performance of the Chemicals high yield corporate bond market.

MacroVar also monitors fundamental indicators closely linked to the Chemicals sector published monthly including analysis of sector specific PMI indicators, components of Manufacturing & Services PMI and Economic Sentiment Indicators analysis.

MacroVar also monitors other factors closely related to the Chemicals industry like closely related financial markets or macroeconmic indicators.

MacroVar estimates the following signals:: Chemicals momentum, Chemicals trend, Chemicals oscillator, Chemicals RSI and Chemicals returns.

Chemicals description

The Chemicals sector includes the subsectors of Commodity Chemicals and Specialty Chemicals. The Commodity Chemicals subsector includes the production and distribution of simple chemical products that are primarily used to formulate more complex chemicals or products, including plastics and rubber in their raw form, fiberglass and synthetic fibers. The Specialty Chemicals subsector includes the production and distribution of finished chemicals for industries or end users, including dyes, cellular polymers, coatings, special plastics and other chemicals for specialized applications. Includes makers of colorings, flavors and fragrances, fertilizers, pesticides, chemicals used to make drugs, paint in its pigment form and glass in its unfinished form. Excludes producers of paint and glass products used for construction, which are classified under Building Materials & Fixtures.

Chemicals Momentum

Momentum is used to capture moves in shorter timeframes than trends. Momentum is the relative change occurring in markets. Relative change is different to a trend. A long-term trend can be up but the short-term momentum of a specific market can be 0. If a market moves down and then moves up and then moves back down the net relative change in price is 0. That means momentum is 0. A short-term positive momentum, with a long-term downtrend results in markets with no momentum.

MacroVar Chemicals momentum signal ranges from -100 to +100. The Chemicals momentum signal is derived as the mean value from 4 calculations for the Chemicals . The timeframes monitored are the following: 1 Day (1 trading day), 1 Week (5 trading days), 1 Month (20 trading days), 3 Months (60 trading days)
For each timeframe, the following calculations are performed: 1. Chemicals return is calculated for the specific timeframe and 2. if the return calculated is higher than 0, signal value output is 1 else signal value is -1. Chemicals momentum signal is the aggregate of the the 4 values. A technical momentum rollover is identified when Chemicals momentum signal moves from positive to negative value or vice-versa.

Chemicals trend

Chemicals trend signal ranges from -100 to +100. Chemicals trend indicator is the mean value of the 8 calculations described below. The timeframes monitored are the following: 1-month (20 trading days), 3-months (60 trading days), 6-months (125 trading days), 1-year (250 trading days)
For each timeframe, the following calculations are performed: 1. Chemicals Closing price vs Chemicals moving average (MA) calculation: If Chemicals is greater than Chemicals MA value is +1, else -1, 2. Chemicals Moving average slope calculation: if current Chemicals moving average is higher than the previous MA, Chemicals upward slope +1, else -1
Chemicals trend model can be used as a trend strength indicator. Chemicals trend strength values ranging between +75 and +100 or -75 and -100 show strong trend strength.
A technical trend rollover is identified when Chemicals trend strength indicator moves from positive to negative value or vice-versa.

The most important trend indicator
The Chemicals 52-week simple moving average and its slope are the most important indicators defining a market’s trend. Chemicals is in an uptrend when Chemicals price is higher than the 52-week moving average and the Chemicals 52-week moving average has an upward slope. If fundamentals of the market have not changed and the moving average slope is still in uptrend, a price drop signifies a market correction and not a change of trend. Traders should watch oscillators like the Chemicals oscillator and Chemicals RSI to buy the dip and still follow the trend. The moving average slope turn signifies a change of trend.

Chemicals oscillator

The Chemicals oscillator estimated by MacroVar is the z-score of the currentChemicals price versus Chemicals 1-year simple moving average price. The formula for the Chemicals oscillator is:
Chemicals oscillator = (Current Price – 250 trading days Chemicals simple moving average price) / (250 days Chemicals price standard deviation)

Chemicals oversold conditions
Chemicals is oversold when it is subject to a persistent downward pressure due to extreme fund outflows. When the Chemicals is oversold it is often due for a rebound. Values of the Chemicals oscillator lower than -2.5 signify oversold conditions. It must be noted that the Chemicals oscillator must be analyzed ibn conjunction with the rest ofChemicals quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the Chemicals RSI.
Chemicals overbought conditions
Chemicals is overbought when it is subject to a persistent upward pressure due to extreme fund inflows. When the Chemicals is overbought it is often due for a correction. Values of the Chemicals oscillator higher than +2.5 signify overbought conditions. It must be noted that the MacroVar oscillator must be compared to the rest of the Chemicals quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the RSI.

Chemicals RSI indicator

The RSI indicator measures the speed and change of price movements. The RSI indicator oscillates between 0 and 100. RSI is a useful indicator during normal trending market conditions when an asset price oscillates around its trend value. During big moves and strong trends however, like short squeezes or price spikes RSI and other oscillators don’t work.
During normal trend market conditions and when Chemicals is in a downtrend RSI values between 50-60 signify overbought conditions before the downtrend is ready to resume. DuringChemicals uptrend, RSI values of 40 to 50 signify oversold conditions before the uptrend is ready to resume. It is strongly not recommended to enter a position when the RSI is “overbought” and falling or vice versa.

Chemicals returns

MacroVar calculates Chemicals returns for the following timeframes: Daily, Weekly, Monthly, Yearly. The formula for calculating returns is:

Chemicals returns = (Chemicals Closing Price – Chemicals Previous Price)/(Chemicals Previous Price)

Chemicals Industry

Monitor and predict the growth prospects and potential risks of the Chemicals industry by examining the financial and macroeconomic factors affecting it and the latest Chemicals news tracked by MacroVar. Sign Up Free to get notified instantly on the latest Chemicals updates and get full access to MacroVar advanced analytics of Global Financial Markets, Economies and Financial Risk.

Click to explore the factors and the financial models used by MacroVar to analyze the Chemicals industry trend, growth prospects and risks.

Chemicals Industry Markets

Market Symbol Last Mom Trend Exh RSI 1D% 1W% 1M% 1Y%
US Chemicals industry US.CHEMICALS 838.2 0.5 0 -0.29238 57.9515 0.00681 0.06315 0.01424 0.03316
Europe Chemicals industry EU.CHEMICALS 2171.08 0.5 0.75 1.13989 48.4278 0.00431 -0.00751 0.00131 0.19911
STOXX Asia Pacific 600 Chemicals APAC.CHEMICALS 238.98 0 -0.75 -0.95149 53.8265 0.00602 0.01173 -0.00029 -0.07815
Eastern Europe Chemicals EEU.CHEMICALS 79.99 0 -1 -4.06338 29.7106 0.00326 0.03735 -0.33158 -0.41019
US Chemicals Credit Spreads US.CHEMICALS.CR 175.09 0.5 0.75 2.39228 46.7845 0.00269 -0.07954 0.03097 0.38663
Europe Chemicals Credit Spreads EU.CHEMICALS.CR 139.02 0 1 3.18039 68.8808 -0.00551 -0.0262 0.1999 0.64872

Chemicals Industry News

Chemicals Industry Analysis

MacroVar monitors the performance, risk, trend and momentum of the Chemicals industry by examining the stock and credit performance of major Chemicals companies across the US, Europe, Eastern Europe and Asia Pacific. Chemicals Stock performance is monitored by analyzing STOXX equity indices of major Chemicals companies while Chemicals credit performance is monitored by analyzing Markit iBoxx credit indices reflecting the performance of the Chemicals high yield corporate bond market.

MacroVar also monitors fundamental indicators closely linked to the Chemicals sector published monthly including analysis of sector specific PMI indicators, components of Manufacturing & Services PMI and Economic Sentiment Indicators analysis.

MacroVar also monitors other factors closely related to the Chemicals industry like closely related financial markets or macroeconmic indicators.

MacroVar estimates the following signals:: Chemicals momentum, Chemicals trend, Chemicals oscillator, Chemicals RSI and Chemicals returns.

Chemicals description

The Chemicals sector includes the subsectors of Commodity Chemicals and Specialty Chemicals. The Commodity Chemicals subsector includes the production and distribution of simple chemical products that are primarily used to formulate more complex chemicals or products, including plastics and rubber in their raw form, fiberglass and synthetic fibers. The Specialty Chemicals subsector includes the production and distribution of finished chemicals for industries or end users, including dyes, cellular polymers, coatings, special plastics and other chemicals for specialized applications. Includes makers of colorings, flavors and fragrances, fertilizers, pesticides, chemicals used to make drugs, paint in its pigment form and glass in its unfinished form. Excludes producers of paint and glass products used for construction, which are classified under Building Materials & Fixtures.

Chemicals Momentum

Momentum is used to capture moves in shorter timeframes than trends. Momentum is the relative change occurring in markets. Relative change is different to a trend. A long-term trend can be up but the short-term momentum of a specific market can be 0. If a market moves down and then moves up and then moves back down the net relative change in price is 0. That means momentum is 0. A short-term positive momentum, with a long-term downtrend results in markets with no momentum.

MacroVar Chemicals momentum signal ranges from -100 to +100. The Chemicals momentum signal is derived as the mean value from 4 calculations for the Chemicals . The timeframes monitored are the following: 1 Day (1 trading day), 1 Week (5 trading days), 1 Month (20 trading days), 3 Months (60 trading days)
For each timeframe, the following calculations are performed: 1. Chemicals return is calculated for the specific timeframe and 2. if the return calculated is higher than 0, signal value output is 1 else signal value is -1. Chemicals momentum signal is the aggregate of the the 4 values. A technical momentum rollover is identified when Chemicals momentum signal moves from positive to negative value or vice-versa.

Chemicals trend

Chemicals trend signal ranges from -100 to +100. Chemicals trend indicator is the mean value of the 8 calculations described below. The timeframes monitored are the following: 1-month (20 trading days), 3-months (60 trading days), 6-months (125 trading days), 1-year (250 trading days)
For each timeframe, the following calculations are performed: 1. Chemicals Closing price vs Chemicals moving average (MA) calculation: If Chemicals is greater than Chemicals MA value is +1, else -1, 2. Chemicals Moving average slope calculation: if current Chemicals moving average is higher than the previous MA, Chemicals upward slope +1, else -1
Chemicals trend model can be used as a trend strength indicator. Chemicals trend strength values ranging between +75 and +100 or -75 and -100 show strong trend strength.
A technical trend rollover is identified when Chemicals trend strength indicator moves from positive to negative value or vice-versa.

The most important trend indicator
The Chemicals 52-week simple moving average and its slope are the most important indicators defining a market’s trend. Chemicals is in an uptrend when Chemicals price is higher than the 52-week moving average and the Chemicals 52-week moving average has an upward slope. If fundamentals of the market have not changed and the moving average slope is still in uptrend, a price drop signifies a market correction and not a change of trend. Traders should watch oscillators like the Chemicals oscillator and Chemicals RSI to buy the dip and still follow the trend. The moving average slope turn signifies a change of trend.

Chemicals oscillator

The Chemicals oscillator estimated by MacroVar is the z-score of the currentChemicals price versus Chemicals 1-year simple moving average price. The formula for the Chemicals oscillator is:
Chemicals oscillator = (Current Price – 250 trading days Chemicals simple moving average price) / (250 days Chemicals price standard deviation)

Chemicals oversold conditions
Chemicals is oversold when it is subject to a persistent downward pressure due to extreme fund outflows. When the Chemicals is oversold it is often due for a rebound. Values of the Chemicals oscillator lower than -2.5 signify oversold conditions. It must be noted that the Chemicals oscillator must be analyzed ibn conjunction with the rest ofChemicals quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the Chemicals RSI.
Chemicals overbought conditions
Chemicals is overbought when it is subject to a persistent upward pressure due to extreme fund inflows. When the Chemicals is overbought it is often due for a correction. Values of the Chemicals oscillator higher than +2.5 signify overbought conditions. It must be noted that the MacroVar oscillator must be compared to the rest of the Chemicals quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the RSI.

Chemicals RSI indicator

The RSI indicator measures the speed and change of price movements. The RSI indicator oscillates between 0 and 100. RSI is a useful indicator during normal trending market conditions when an asset price oscillates around its trend value. During big moves and strong trends however, like short squeezes or price spikes RSI and other oscillators don’t work.
During normal trend market conditions and when Chemicals is in a downtrend RSI values between 50-60 signify overbought conditions before the downtrend is ready to resume. DuringChemicals uptrend, RSI values of 40 to 50 signify oversold conditions before the uptrend is ready to resume. It is strongly not recommended to enter a position when the RSI is “overbought” and falling or vice versa.

Chemicals returns

MacroVar calculates Chemicals returns for the following timeframes: Daily, Weekly, Monthly, Yearly. The formula for calculating returns is:

Chemicals returns = (Chemicals Closing Price – Chemicals Previous Price)/(Chemicals Previous Price)