Energy (XLE) was the big winner of the week for the second week in a row. Additional positive vaccine news signaled the possibility of several sectors recovering and driving demand for oil and gas. After a poor performance last week, Technology (XLK) followed closely the performance of the S&P 500 index. Utilities (XLU) performed the worst this week, although...
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I really like UNH in this space. Health insurance names in general seem to want to push higher. Nice inverse head and shoulders here on the daily with what could be a market bottom. Starting to pick up a bit of biotech as well to compliment
Trend lines drawn from 9/3 (31d), 9/24 bottom (17d), 10/12 (5d), and today 10/16 (1 day). The Nasdaq index action today gave us a great summary of the entire week. An amazing start, and a very disappointing end. Just as Monday was an amazing start to the week, today's morning saw gains of over 1% only to disappoint with -0.36% loss by the end of the day. The...
Retest of 200day MA at $189 should be in play this week.
Descending wedge, earnings next week. Been under loved recently. I’m looking for 187 end of week and $195 prior to earnings next week. Bullish divergence in RSI as well.
XLF Short Entry: 13:10:19 (UTC) Fri Jul 10, 2020
XLK Long Entry: 13:06:55 (UTC) Tue Jun 23, 2020
It's worth remembering that all the economic data coming out (retail sales, payrolls, etc.) showing month-on-month rate of change looks pretty different on a year-on-year basis.
Have a great day all
Look how RYH (EW Healthcare) performed relative to XLV (CW Healthcare) after the market bottomed in 2009? Interesting, since inception the EW ETF is crushing its Cap weighted cohort