This is only a trading capability - no recommendation !!!
Next wkk i`ll confirm or change my opinion about this SetUp :)
Buying/Selling or even only watching is always your own responsibility ...
Here is a chart showing all the different ETFs ... you can find more information about these here:
I'm sure everyone already knows about these:
S&P 500 Index (SPY)
Consumer Discretionary (XLY)
Consumer Staples (XLP)
Health Care (XLV)
This is possibly one of the more interesting plays going forward. The 2014-16 decline mirrored the 2007-09 decline (price wise almost a perfect match). The recovery or retrace is tracing out along the same analog (2009-10). There appears to be another dip ahead (per the analog) before an explosive move higher ...
The break of the pennant within the possible head and shoulders complex could be the deciding factor. In terms of risk/rewad I prefer to short energy stocks against oil. But the way the chart is forming on a daily metric leads me to believe the trend of stronger energy stocks against oil prices will continue in the ...
Price breaking above 71.80. The next upside target is ~83.50ish +16%
Good support down at 65.00.
What to do?
I feel like I have missed the boat when it was at 65. Aggressive traders might be buying here, but I am going to wait.