US Oil Equipment, Services & Distribution industry

US Oil Equipment, Services & Distribution industry closed down by -2.5% to 268.07 on 23 January 2021 and +-7.6% on a weekly basis. US Oil Equipment, Services & Distribution industry momentum was last calculated at +100.0/100 indicating positive momentum. US Oil Equipment, Services & Distribution industry trend is +75.0/100 indicating a positive trend. US Oil Equipment, Services & Distribution industry momentum exhaustion is 0.58097 indicating US Oil Equipment, Services & Distribution industry is oversold.US Oil Equipment, Services & Distribution industry RSI is 66.2294 .

US Oil Equipment, Services & Distribution industry Chart

US Oil Equipment, Services & Distribution industry

US Oil Equipment, Services & Distribution industry Statistics

MacroVar multi-factor statistical models monitor financial factors which are used to analyze and predict the US Oil Equipment, Services & Distribution industry. Click here to explore the financial factors monitored and their current signals.

Click here to explore the methodology used for estimating the US Oil Equipment, Services & Distribution industry trading signals presented in the US Oil Equipment, Services & Distribution industry statistics table.

Security Symbol Last Momentum Trend Oscillator RSI 1D% 1W% 1M% 1Y%
US Oil Equipment, Services & Distribution industry US.OILEQSERVDISTR 268.07 1 0.75 0.58097 66.2294 -2.5 -7.6 2.5 -0.31711

US Oil Equipment, Services & Distribution industry closed at 268.07 on 23 January 2021. US Oil Equipment, Services & Distribution industry trend was last calculated at +75.0/100 (range: -100 to +100) indicating a positive trend based on MacroVar models. US Oil Equipment, Services & Distribution industry momentum was last calculated at +100.0/100 (range: -100 to +100) indicating positive momentum. US Oil Equipment, Services & Distribution industry momentum exhaustion is 0.58097 (normal range: -2.5 to +2.5, overbought values: greater than 2.5, oversold values: less than 2.5) indicating US Oil Equipment, Services & Distribution industry is oversold and a possible reversal is imminent. US Oil Equipment, Services & Distribution industry RSI was last calculated at 66.2294. US Oil Equipment, Services & Distribution industry moving averages were last recorded as follows: 1-month moving average: 225.641 in an uptrend , 1-quarter moving average: 206.749 in an uptrend and 1-year moving average: 208.866 in a downtrend. US Oil Equipment, Services & Distribution industry annual return was last recorded at None%, daily return was last recorded at -2.5%, and weekly return was last recorded at -7.6%. US Oil Equipment, Services & Distribution industry histrorical 20-day volatility was last recorded at 30.164%, US Oil Equipment, Services & Distribution industry alpha None, US Oil Equipment, Services & Distribution industry beta None and US Oil Equipment, Services & Distribution industry maximum drawdown was recorded at None%. MacroVar models monitor US Oil Equipment, Services & Distribution industry statistics based on historical data since 1970.

US Oil Equipment, Services & Distribution industry News

US Oil Equipment, Services & Distribution industry Factors

US Oil Equipment, Services & Distribution industry

Factor Symbol Last Value Predicted Value R2 MacroVar Signal
US Oil Equipment, Services & Distribution Stocks vs Credit US.STCR.OILEQUIPDISTR 219.74 13.489 0.365

United States Markets

Market Symbol Last Mom Trend Exh RSI 1D% 1W% 1M% 1Y%
S&P 500 SPX 4358.69 0 0.75 -2.6 72.32 -0.36 2.64 4.09 0.35798
S&P 500 ETF SPY 434.55 0.5 1 1.55493 58.155 -0.39 2.7 4.06 0.14736
US Dollar Index (DXY) DXY 92.75 0 -1 -0.5352 43.8176 0.37 1.03 2.36 -0.07489
United States 10-Year Bond Yield US.10Y 1.29 -0.5 0.25 0.11307 51.7114 -4.09 -13.19 -19.85 -0.49589
US 5-year bond yield US.5Y 0.74 -0.5 -0.25 -0.37083 46.288 -7.38 -16 -13.02 -0.78074
US 30-year bond yield US.30Y 1.94 -0.5 0.25 0.42814 49.6785 -1.72 -8.01 -15.24 -0.28429
iShares 20+ Year Treasury Bond ETF TLT 148.1 -0.5 -0.5 -0.41513 43.3466 0.84 3.1 7.07 0.13041
iShares iBoxx $ Investment Grade Corporate Bond LQD 135.27 -0.5 0.5 0.8286 46.445 0.3 1.11 3.35 0.06823
iShares iBoxx $ High Yield Corporate Bond HYG 87.73 0.5 0.75 0.93656 61.2482 -0.14 0.08 0.29 -0.01112
iShares 7-10 Year Treasury Bond ETF IEF 117.13 -0.5 -0.5 -0.03907 45.3845 0.55 1.52 2.84 0.07499
SPDR Barclays High Yield Bond JNK 109.64 1 0.75 0.9771 62.5206 -0.12 0.13 0.58 -0.00992
iShares TIPS Bond (TIP) TIP 128.7 0.5 1 1.32977 74.3114 0.07 0.81 1.28 0.08835
US 2-year bond yield US.2Y 0.21 -1 -1 -0.55223 42.4592 -6.67 -20.75 27.97 -0.92399
US Yield Curve US.YC 1.08 0 1 1.74858 55.6394 -3.57 -11.55 -25.28 1.91241
US Yield Curve 2s5s US.YC25 0.53 0 0.5 1.38639 50.8504 -7.67 -13.96 -22.82 3.08475
US Yield Curve 5s10s US.YC510 0.55 0 1 1.84348 58.6679 -0.18 -9.69 -27.56 1.73529
US Yield Curve 5s30s US.YC530 1.2 0 0.75 1.21768 52.8329 2.13 -2.28 -16.56 0.9709
US Yield Curve 10s30s US.YC1030 0.65 -1 -0.5 0.52721 45.0387 4.17 5.01 -4.26 0.5283
US Yield Curve 2s30s US.YC0230 1.73 0 0.75 1.31448 52.3027 -1.09 -6.18 -18.58 1.14607

United States Economic Indicators

Indicator Symbol Actual Previous M/M% Y/Y% Trend Slope ZS5Y Update
balance of trade us.balanceoftrade -74448 -70518 0.0557305 0.575853 -1.0 -1.0 0.966667 2021-03-31
bank lending rate us.banks.lendingrate 3.25 3.81 -0.146982 -0.409091 -1.0 -1.0 0.0166667 2020-04-30
building permits us.buildingpermits 1653 1586 4.22 3.64 -100.0 100.0 40 2021-10-31
business confidence (ISM) us.bizconfidence 60.6 61.2 -0.00980392 0.152091 1.0 1.0 0.783333 2021-06-30
capacity utilization us.caputilization 74.9 74.3914 0.00683681 0.166002 1.0 1.0 1 2021-04-30
capital flows us.capitalflows 146400 72638 1.01547 -0.587987 1.0 -1.0 0.433333 2021-03-31
car registrations us.carregistrations 386.98 412.61 -0.0621168 1.11728 1.0 1.0 1 2021-04-30
case shiller home price index us.caseshiller 257.1 251.79 0.021089 0.148999 1.0 1.0 1 2021-04-30
composite pmi us.comppmi 63.7 68.7 -0.0727802 0.329854 1.0 1.0 0.95 2021-06-30
consumer confidence us.us.consconfidence 80.8 85.5 -0.0549708 0.114483 -1.0 1.0 0.95 2021-07-31
consumer price index cpi us.cpi 270.98 268.55 0.00904859 0.0532412 1.0 1.0 1 2021-06-30
continuing jobless claims us.contjoblessclaims 3731 3794 -0.0166052 -0.279034 -1.0 -1.0 0.483333 2021-04-30
core inflation rate us.coreinflationrate 4.5 3.8 0.184211 2.75 1.0 1.0 1 2021-06-30
core pce price index us.corepce 116.581 116.023 0.00480939 0.033932 1.0 1.0 1 2021-05-31
core Producer Price Index us.coreproducerprices 124.8 123.6 0.00970874 0.0558376 1.0 1.0 1 2021-06-30
current account us.currentaccount -188484 -180917 0.0418258 0.671417 -1.0 -1.0 0.983333 2020-10-01
current account to gdp us.currentaccountgdp -3.1 -2.2 0.409091 -0.340426 -1.0 1.0 0 2020-01-31
durable goods orders us.durablegoods 2.3 -0.8 -3.875 -0.847682 -1.0 -1.0 0.583333 2021-05-31
durable goods orders ex defense us.durablegoodsexdef 1.7 0.5 2.4 -0.886667 -1.0 -1.0 0.516667 2021-05-31
durable goods orders ex transportation us.durablegoodsextransp 0.3 1.7 -0.823529 -0.925 -1.0 -1.0 0.616667 2021-05-31
exports us.exports 200030 187589 0.0663205 0.0805774 1.0 1.0 0.916667 2021-03-31
external debt us.externaldebt 21764800 21358300 0.0190324 0.134712 1.0 1.0 0.5 2021-01-01
fiscal expenditure us.fiscalexp 623359 595698 0.0464346 -0.435823 1.0 -1.0 0.0166667 2021-06-30
foreign direct investment us.fdi 53916 47457 0.136102 0.252462 1.0 1.0 0.616667 2021-01-01
foreign exchange reserves us.fxreserves 141810 141120 0.00488946 0.0723765 1.0 1.0 0.833333 2021-05-31
gdp us.gdp 20936.6 21433.2 -0.0231697 0.423019 1.0 1.0 0 2020-01-31
Real GDP us.realgdp 19086.4 18794.4 0.0155365 0.0299992 1.0 1.0 0.266667 2021-01-01
gdp growth us.gdpgrowth 6.4 4.3 0.488372 0.684211 1.0 1.0 0.866667 2020-11-01
gdp growth annual us.gdpgrowthan 0.4 -2.4 -1.16667 -0.870968 1.0 -1.0 0.216667 2020-11-01
gold reserves us.goldres 8133.46 8133.5 -0.00000491793 0 -1.0 -1.0 0.55 2020-07-01
government budget us.govbudget -14.9 -4.6 2.23913 3.80645 -1.0 -1.0 0.916667 2020-01-31
Government budget us.govbudgetvalue -226000 -660000 -0.657576 -0.693776 1.0 1.0 0.15 2021-04-30
government debt us.govdebt 28529400 28199000 0.0117167 0.0775082 1.0 1.0 0.716667 2021-06-30
government debt to gdp us.govdebtgdp 107.6 106.9 0.00654818 0.589365 1.0 1.0 0.75 2019-02-28
government revenues us.govrev 449000 463745 -0.0317955 0.864393 1.0 1.0 0.966667 2021-06-30
housing starts us.housingstarts 1643 1546 0.0627426 0.290652 1.0 1.0 0.916667 2021-06-30
imports us.imports 274478 258107 0.0634272 0.181277 1.0 1.0 1 2021-03-31
industrial production us.indproduction 16.5 1 15.5 -2.01227 1.0 1.0 0.2 2021-04-30
industrial production mom us.indproductionmm 0.7 2.4 -0.708333 -1.05512 -1.0 1.0 0.516667 2021-04-30
inflation cpi us.inflationcpi 5.4 5 0.08 8 1.0 1.0 0.966667 2021-06-30
inflation expectations us.inflationexp 4.8 4 0.2 0.791045 1.0 1.0 1 2021-06-30
interbank rate us.interbankrate 0.13 0.14 -0.0714286 -0.35 -1.0 -1.0 0.0166667 2021-06-02
interest rate us.interestrate 0.25 1.25 -0.8 -0.9 -1.0 -1.0 0.0166667 2020-03-15
job offers us.joboffers 9209 9193 0.00174045 0.690655 1.0 1.0 0.983333 2021-05-31
jobless claims us.joblessclaims 385 406 -0.0517241 -0.45927 -1.0 -1.0 0.2 2021-05-29
loans to private sector us.loanprivate 2487.89 2546.98 -0.0232 -0.142125 -1.0 -1.0 0.0333333 2021-06-30
long term unemployment rate us.ltunemploymentrate 2.47 2.33 0.0600858 1.83908 1.0 1.0 0.866667 2021-06-30
manufacturing pmi us.manpmi 62.1 62.1 0 24.7 UP UP 99.17 2021-08-06
money supply m0 us.msm0 6041900 6042100 -0.0000331011 0.173292 1.0 1.0 0.783333 2021-05-31
money supply m1 us.msm1 19221.7 18935.2 0.0151306 2.7968 1.0 1.0 0.95 2021-05-31
money supply m2 us.msm2 20370.1 20108.6 0.0130044 0.139879 1.0 1.0 0.783333 2021-05-31
mortgage rate us.mortgrate 3.09 3.15 -0.0190476 -0.034375 -1.0 -1.0 0.633333 2021-07-09
nahb housing market index us.nahb 83 82 0.0121951 1.76667 1.0 1.0 1 2021-04-30
new home sales us.newhomesales 1021 846 0.206856 0.668301 1.0 1.0 1 2021-03-31
non manufacturing pmi us.nonmanpmi 62.7 63.7 -0.0156986 0.5 1.0 1.0 1 2021-04-30
Producer Price Index us.producerprices 123.8 123.1 0.00568643 0.0617496 1.0 1.0 1 2021-04-30
PPI Index us.producerpricesch 6.2 4.2 0.47619 -5.13333 1.0 1.0 0.0333333 2021-04-30
retail sales MoM us.retailsales 10.7 -2.9 -4.68966 -2.27381 1.0 1.0 0.233333 2021-03-31
retail sales us.retailsalesan 51.2 29 0.765517 -3.57286 1.0 1.0 0.05 2021-04-30
retail sales ex autos us.retailsalesexauto -0.8 9 -1.08889 -0.947368 -1.0 1.0 0.416667 2021-04-30
services pmi us.servpmi 70.1 64.7 0.0834621 0.869333 1.0 1.0 0.983333 2021-05-30
total vehicle sales us.vehiclesales 18.5 17.7 0.0451977 1.15116 1.0 1.0 1 2021-04-30
unemployment rate us.unemploymentrate 6.1 6 0.0166667 -0.585034 -1.0 -1.0 0.0166667 2021-04-30
youth unemployment rate us.ytunemploymentrate 11 11.1 -0.00900901 -0.59854 -1.0 -1.0 0.0166667 2021-04-30
Effective Federal Funds Rate us.fedfunds.eff 0.06 0.07 -0.142857 0.2 -1.0 1.0 0.35 2021-05-01
BofA Merrill Lynch US High Yield Option-Adjusted Spread us.baml.hy 3.21 3.23 -0.00619195 -0.041791 -1.0 -1.0 0.25 2021-06-11
BofA Merrill Lynch US Corporate BBB Option-Adjusted Spread us.baml.bbb 1.11 1.12 -0.00892857 -0.0176991 -1.0 -1.0 0.433333 2021-06-11
University of Michigan Consumer Sentiment us.uomconf 88.3 84.9 0.0400471 0.229805 1.0 1.0 1 2021-04-01
5-Year Breakeven Inflation Rate us.5y5y 2.65 2.53 0.0474308 2.44156 1.0 1.0 0.983333 2021-05-01
BofA Merrill Lynch US Corporate Master Option-Adjusted Spread us.baml.master 0.9 0.91 -0.010989 0 -1.0 -1.0 0.791667 2021-06-11
BofA Merrill Lynch US High Yield BB Option-Adjusted Spread us.baml.bbb 2.32 2.34 -0.00854701 -0.0491803 -1.0 -1.0 0.25 2021-06-11
Federal Funds Target Range - Lower Limit us.fedfunds.lower 1 1 0 -0.333333 -1.0 -1.0 0.108333 2020-03-14
Cass Freight Index Shipments us.cassfreight 1.269 1.178 0.0772496 0.352878 1.0 1.0 1 2021-05-01
ism manufacturing Employment index us.ism.man.emp 50.9 55.1 -0.076225 0.58567 1.0 1.0 0.983333 2021-05-31
ism manufacturing index us.ism.man 61.2 60.7 0.00823723 0.419954 1.0 1.0 0.983333 2021-05-31
ism non manufacturing employment us.ism.serv.emp 55.3 58.8 -0.0595238 0.738994 1.0 1.0 0.983333 2021-05-31
ism non manufacturing index us.ism.serv 72.4 62.7 0.154705 0.594714 1.0 1.0 1 2021-05-31
ism non manufacturing new orders index us.ism.serv.neword 63.9 63.2 0.0110759 0.52506 1.0 1.0 0.983333 2021-05-31
ism non manufacturing prices index us.ism.serv.prices 80.6 76.8 0.0494792 0.44964 1.0 1.0 0.983333 2021-05-31
ism manufacturing New Orders Index us.ism.man.neworders 67 64.3 0.0419907 1.10692 1.0 1.0 0.983333 2021-05-31
ism non manufacturing business Activity us.ism.serv.biz 66.2 62.7 0.0558214 0.614634 1.0 1.0 0.983333 2021-05-31
ism manufacturing Production Index us.ism.man.prod 58.5 62.5 -0.064 0.762048 -1.0 1.0 0.983333 2021-05-31
ism manufacturing Supplier Deliveries Index us.ims.man.supdel 78.8 75 0.0506667 0.158824 1.0 1.0 0.8 2021-05-31
ism manufacturing Inventories Index us.ism.man.inv 50.8 46.5 0.0924731 0.00793651 1.0 1.0 0.466667 2021-05-31
ism manufacturing Customers inventories Index us.ism.man.cust 28 28.4 -0.0140845 -0.393939 -1.0 -1.0 0.0333333 2021-05-31
ism manufacturing Prices Index us.ism.man.prices 88 89.6 -0.0178571 1.15686 1.0 1.0 0.966667 2021-05-31
ism manufacturing Backlog of Orders Index us.ism.man.backlog 70.6 68.2 0.0351906 0.848168 1.0 1.0 1 2021-05-31
ism manufacturing Exports Index us.ism.man.exp 55.4 54.9 0.00910747 0.402532 1.0 1.0 0.983333 2021-05-31
ism non manufacturing Inventories Index us.ism.serv.inv 51.5 49.1 0.0488798 0.0729167 -1.0 1.0 0.883333 2021-05-31
ism non manufacturing supplier deliveries Index us.ism.serv.supdel 70.4 66.1 0.0650529 0.0507463 1.0 1.0 0.633333 2021-05-31
ism non manufacturing order backlog Index us.ism.serv.ordersback 61.1 55.7 0.0969479 0.31681 1.0 1.0 1 2021-05-31
ism non manufacturing New Export Orders us.ism.serv.newexp 60 58.6 0.0238908 0.445783 1.0 1.0 0.983333 2021-05-31
ism non manufacturing Inventory Sentiment Index us.ism.serv.invsent 40.5 46.8 -0.134615 -0.264973 -1.0 -1.0 0.0166667 2021-05-31
US Consumer Confidence Index us.consconfidence 117.2 117.5 -0.00255319 0.364377 1.0 1.0 0.983333 2021-05-31
Leading Economic Indicator Conference Board index us.lei 113.3 111.5 0.0161435 0.169247 1.0 1.0 1 2021-04-30
Coincident Economic Indicator (CEI) - Conference Board us.cei 104.1 103.8 0.00289017 0.119355 1.0 1.0 1 2021-04-30
Lagging Economic Indicator (Lagging) - Conference Board us.lagging 104.7 102.8 0.0184825 -0.0935065 -1.0 -1.0 0.0166667 2021-04-30
US Citigroup Economic Surprise Index us.cesi 13 4 2.25 -0.835443 -1.0 -1.0 0.316667 2021-06-04
Build Permits United States us.us.buildingpermits 1760 1755 0.002849 0.608775 1.0 1.0 1 2021-04-01
ECRI US Weekly Leading Index us.ecri.leading 159.5 159.1 0.00251414 0.0562914 1.0 1.0 0.716667 2021-05-21
ECRI US Coincident Index us.ecri.coincident 195.5 194.5 0.00514139 0.194988 1.0 1.0 1 2021-04-01
ECRI US Lagging Index us.ecri.lagging 213.8 212.8 0.00469925 -0.0631025 1.0 -1.0 0.0833333 2021-04-01
University of Michigan Consumer Sentiment Expected Index us.uomconfexp 82.7 79.7 0.0376412 0.179743 1.0 1.0 1 2021-04-30
University of Michigan Consumer Sentiment Current Index us.uomconfcur 97.2 93 0.0451613 0.30821 1.0 1.0 1 2021-04-30
ICE BofAML US High Yield Master II us.baml.ushi 3.28 3.28 0 -0.0352941 -1.0 -1.0 0.233333 2021-06-04
BofAML US High Yield CCC or Below Option-Adjusted Spread us.baml.ccc 6.31 6.32 -0.00158228 -0.0322086 -1.0 -1.0 0.15 2021-06-04
Federal Funds Rate us.fedfunds 0.09 0.09 0 0 UP Down 60 2021-01-12
S&P/Case-Shiller 10-City Composite Home Price Index us.10city.caseshiller 248.14 244.258 1.59 7.54 UP UP 100 2021-01-13
S&P/Case-Shiller 20-City Composite Home Price Index us.20city.caseshiller 235.46 231.715 1.61 7.93 UP UP 100 2021-01-13
S&P/Case-Shiller 20-City Home Price Sales Pair Counts us.20city.caseshiller 180935 194048 -6.76 17.31 UP UP 91.67 2021-01-13
ism manufacturing sector - apparel ism.breadth.apparel 13 5 1.6 3.33333 1.0 1.0 0.983333 2021-05-03
ism manufacturing sector - Computer & Electronic Products ism.breadth.confuter 6 11 -0.454545 -1.6 -1.0 1.0 0.191667 2021-06-01
ism service sector - accomodation nmi.breadth.accomodation 13 17 -0.235294 -2.44444 1.0 1.0 0.0833333 2021-06-03
NY Empire state Manufacturing us.ny.empire.state.manufacturing 52.1 56.3 -0.0746004 0.0831601 1.0 1.0 0.416667 2020-11-30
United States Dallas Fed Services Index us.dalls.fed.services 52.1 56.3 -0.0746004 0.0831601 1.0 1.0 0.416667 2020-11-30
U.S. Chicago Purchasing Managers Index us.chicago.pmi 52.1 56.3 -0.0746004 0.0831601 1.0 1.0 0.416667 2020-11-30
US Richmond Fed Manufacturing us.richmond.fed.manufacturing 52.1 56.3 -0.0746004 0.0831601 1.0 1.0 0.416667 2020-11-30
US Kansas Fed Manufacturing us.kansas.fed.manufacturing 52.1 56.3 -0.0746004 0.0831601 1.0 1.0 0.416667 2020-11-30
US Dallas Fed Manufacturing us.dalls.fed.manufacturing 52.1 56.3 -0.0746004 0.0831601 1.0 1.0 0.416667 2020-11-30
US Philadelphia Fed Manufacturing us.philadelphia.fed.manufacturing 52.1 56.3 -0.0746004 0.0831601 1.0 1.0 0.416667 2020-11-30
Import Dry Bulk Freight Index(CDFI) CDFI 1676.29 1671.71 0.00273971 0.0780763 1.0 1.0 1 2021-08-06
Coastal Bulk (Coal) Freight Index (Daily Index) CBCF 1042.99 1034.34 0.00836282 0.0671503 1.0 1.0 0.716667 2021-08-06
Coastal Bulk Freight Index CBF-IDX-SSE CBFI 1239.03 1229.26 0.00794787 -0.141964 1.0 -1.0 0.666667 2021-08-06
Shanghai Containerized Freight Index SCF SCFI 4225.86 4196.24 0.0070587 0.263964 1.0 1.0 1 2021-08-06
Containerized Freight Index CCF CCFI 3006.82 2930.03 0.0262079 0.408762 1.0 1.0 1 2021-08-06

US Oil Equipment, Services & Distribution industry Trading Signals


MacroVar estimates the following signals: US Oil Equipment, Services & Distribution industry momentum, US Oil Equipment, Services & Distribution industry trend, US Oil Equipment, Services & Distribution industry oscillator, US Oil Equipment, Services & Distribution industry RSI and US Oil Equipment, Services & Distribution industry returns.

US Oil Equipment, Services & Distribution industry Momentum

Momentum trading 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.

MacroVarUS Oil Equipment, Services & Distribution industry momentum signal ranges from -100 to +100. The US Oil Equipment, Services & Distribution industry momentum signal is derived as the mean value from 4 calculations for the US Oil Equipment, Services & Distribution industry. 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. US Oil Equipment, Services & Distribution industry 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. US Oil Equipment, Services & Distribution industry momentum signal is the aggregate of the the 4 values. A technical momentum rollover is identified when US Oil Equipment, Services & Distribution industry momentum signal moves from positive to negative value or vice-versa.

US Oil Equipment, Services & Distribution industry trend

US Oil Equipment, Services & Distribution industry trend signal ranges from -100 to +100. US Oil Equipment, Services & Distribution industry 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. US Oil Equipment, Services & Distribution industry Closing price vs US Oil Equipment, Services & Distribution industry moving average (MA) calculation: If US Oil Equipment, Services & Distribution industry is greater than US Oil Equipment, Services & Distribution industry MA value is +1, else -1, 2. US Oil Equipment, Services & Distribution industry Moving average slope calculation: if current US Oil Equipment, Services & Distribution industry moving average is higher than the previous MA, US Oil Equipment, Services & Distribution industry upward slope +1, else -1
US Oil Equipment, Services & Distribution industry trend model can be used as a trend strength indicator. US Oil Equipment, Services & Distribution industry trend strength values ranging between +75 and +100 or -75 and -100 show strong trend strength.
A technical trend rollover is identified when US Oil Equipment, Services & Distribution industry trend strength indicator moves from positive to negative value or vice-versa.

The most important trend indicator
The US Oil Equipment, Services & Distribution industry 52-week simple moving average and its slope are the most important indicators defining a market’s trend. US Oil Equipment, Services & Distribution industry is in an uptrend when US Oil Equipment, Services & Distribution industry price is higher than the 52-week moving average and the US Oil Equipment, Services & Distribution industry 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 US Oil Equipment, Services & Distribution industry oscillator and US Oil Equipment, Services & Distribution industry RSI to buy the dip and still follow the trend. The moving average slope turn signifies a change of trend.

US Oil Equipment, Services & Distribution industry oscillator

The US Oil Equipment, Services & Distribution industry oscillator estimated by MacroVar is the z-score of the current US Oil Equipment, Services & Distribution industry price versus US Oil Equipment, Services & Distribution industry 1-year simple moving average price. The formula for the US Oil Equipment, Services & Distribution industry oscillator is:
US Oil Equipment, Services & Distribution industry oscillator = (Current Price – 250 trading days US Oil Equipment, Services & Distribution industry simple moving average price) / (250 days US Oil Equipment, Services & Distribution industry price standard deviation)

US Oil Equipment, Services & Distribution industry oversold conditions
US Oil Equipment, Services & Distribution industry is oversold when it is subject to a persistent downward pressure due to extreme fund outflows. When the US Oil Equipment, Services & Distribution industry is oversold it is often due for a rebound. Values of the US Oil Equipment, Services & Distribution industry oscillator lower than -2.5 signify oversold conditions. It must be noted that the US Oil Equipment, Services & Distribution industry oscillator must be analyzed ibn conjunction with the rest of US Oil Equipment, Services & Distribution industry 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 US Oil Equipment, Services & Distribution industry RSI.
US Oil Equipment, Services & Distribution industry overbought conditions
US Oil Equipment, Services & Distribution industry is overbought when it is subject to a persistent upward pressure due to extreme fund inflows. When the US Oil Equipment, Services & Distribution industry is overbought it is often due for a correction. Values of the US Oil Equipment, Services & Distribution industry oscillator higher than +2.5 signify overbought conditions. It must be noted that the MacroVar oscillator must be compared to the rest of the US Oil Equipment, Services & Distribution industry 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.

US Oil Equipment, Services & Distribution industry 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 US Oil Equipment, Services & Distribution industry is in a downtrend RSI values between 50-60 signify overbought conditions before the downtrend is ready to resume. During US Oil Equipment, Services & Distribution industry 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.

US Oil Equipment, Services & Distribution industry returns

MacroVar calculates US Oil Equipment, Services & Distribution industry returns for the following timeframes: Daily, Weekly, Monthly, Yearly. The formula for calculating returns is:

US Oil Equipment, Services & Distribution industry returns = (US Oil Equipment, Services & Distribution industry Closing Price – US Oil Equipment, Services & Distribution industry Previous Price)/(US Oil Equipment, Services & Distribution industry Previous Price)
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