LONG TIME TRENDLINES IN PLAY LOW OF YEAR IN PLAY CORRECTION WITH NORMAL TO LOW VOLUME GOOD RR: 3.5+
SPX vs Major Sectors. I added IBB to cover Biotech. Please comment. My understanding at this point is to stay in sectors which have good fundamentals and have been relative laggards. The 3 bottom ones at this point seem to be Financials, Technology and XLU / XLP. Since utilities is a risk-averse sector, so in a pro-growth environment I may want to go with the...
I'm going to start doing weekly price targets for a select few market sector ETFs each week. Here are this weeks targets: SPY: 220 ~ 225 XLF: 22.3 ~ 23.2 XLE: 72 ~ 75 XLV: 68.5 ~ 71.1 XLRE: 28 ~ 30.4 XLI: 60 ~ 63.7
Nice recovery at the end of today's session, the medium term support area around 1820 remains intact on SPX. DJ transportation has almost closed positive today despite the overall market drop. I'm looking at XLI as a possible buy on a short term basis.
XLI holds 10-year uptrend at the august selloff, but did not yet recover its 5-year uptrend. On long term perspective price has failed its 5-year uptrend (fell below 5-year uptrend border) and tested its 10-year trend during the august selloff (tagged the 10-year uptrend border). The 10-year uptrend test proved successful and the price has been recovering since...
XLI extended the downleg off 56.47 (June 18, 2015 high) via a 6-week falling channel to reach 52.46 Monday (July 27, 2015), near 61.8% of the 48.83/58.23 rise and the channel support as well. Subsequent strong rebound forms a morning star bullish reversal pattern (as shown on the daily chart) and signal further strength towards the 54.20/54.52 zone (July 23/22,...
I have begun slowly accumulating $GE in Jan. after the #2 Excess Demand signal on Jan 20. Average is $24.13 with staggered stops below $24.47, $24.23 and $23.55. However, I think the real long term opportunity will present itself on the first pull back after the January bottom. This is shaping up to occur after the $25.48 (approx.) level is tagged. This is my...
The charts above show the performance of each sector relative to all nine sectors combined. XLK tech couldn't be included due to having only 8 panes but it was included in determining the sector ratios. Important to keep in mind that these are ratios, all prices could go lower or higher together but what I'm interested in here is purely the relative performance....
Demand outstripping supply on this small pull back. Y'day lo supply signal. Excess demand signals in background with a #3 on 2014.12.01. If this changes, I'll update. Channel defined. Target dates align early Jan 2015. Seasonality supports.
I stuck with DE Deere as it is contained between the two displayed cyclical s/r levels. Pros stepped in on 2014.11.17 and absorbed supply. Earnings is up next. I expect a push to s/r at 88.62 to front run earnings.