New bullish credit spread on XLU. Opened and moved above the $53 mark this morning. Looking for a higher low and mid 52s to confirm as support early this week.
Break even 53.21
Max profit 53.50
Still no signs of an imminent crisis, although Telecommunications SP:S5TELS sector is going in a descending triangle. Could it trigger the inversion?
Gold and Silver NASDAQ:XAU, in the meantime, broke an important support.
Friends, as you can see from the linked ideas I have been able to use fib levels to good effect when predicting where price will go. Let's use them once more! As we can see, the Nasdaq (as well as several other indices including the all-important Russell 2000) have been bouncing off respective fib levels. Russell once again seems to say GO. This time, however, I...
What a tumultuous market.
Celgene reports earnings on 5/4. Earnings play aside, are traders and investors rotating into or out of pharmaceuticals?
The market doesn't know what to do with itself right now. With a Fed meeting taking place over the next couple days, Caterpillar's CFO claiming we've seen a "high water mark" with Q1 earnings, rate concerns, trade...
Gonna make this very quick.
Steel is looking ridiculous right now. It broke out of its logarithmic resistance (extremely hard thing to do, took around 8 years), is at a daily resistance right now of around 51.60, and has fantastic potential to jump up to 57.00-58.00 MINIMUM, 76.00 being Aggressive. That doesn't even include the new tariff Trump put in...
We've seen a massive rip in retail with XRP in the last couple days.
Finally breaking out of this 6 month long Head and Shoulders bottoming pattern. Breaking out over that neckine of 42 was the buy signal. Overall, retail is still in a down trend, and that downward trendline from 2015 highs is our target as well as where we should face profit taking and...
SPX and sectors correlations 10 day Period, Advance Decline ratio (ADL) and ADL correlation 10 day Period
XLY Consumer Discretionary
XLP Consumer Staples
XLV Health Care
XLK Information Technology
The Materials Sector SPDR Fund has been in a bull trend since the end of the financial crisis. The trend has narrowed but remains upright since December 2016. The fund has been in a more specific trend channel since February and has created firm support and resistance levels. The fund is currently at that resistance level. Below I have laid out the reasons and...
Materials and Finance both started the week flat, moved up for a couple days, then remained steady on Friday while the US and World markets were down. If the US and World indexes are up next week I expect much from these two!
Real Estate and Consumer Staples (Non-Cyclical) were the clear Sector losers taking back all the gains they made early in the week to...