blzim
Long

According to FIb. Could be an awesome dip to buy the XLI

AMEX:XLI   SELECT SECTOR SPDR TRUST AMEX INDUSTRIAL SELECT
According to fibs from 07/08 high/lows.... Could see some more run in the XLI . Looking for $85.
Order cancelled: Watching the market wipe out all its gain today makes me realize risk/reward just isn't here. Just because I want a stock to go up and everyone on CNBC saying buy the dip... Doesn't mean it will, or doesn't mean they are right. I don't short, so I am staying out for a few weeks. Don't catch a falling knife...
It is crashing from its all time high. overall this is a bearish trend(cross down EMA 50), and it hasn't had its third impulse down for us to seek for any reversals yet. Im looking for $71 soon. Also, Might be a double top; it might pull back from $71 to $76-77, then dip right into $58-59
+1 Reply
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