Bough the possibly* weekly false brake(*will see at weekly close) on the support of the trading range. Very similar to my previous MOS trade, will link to it for reference. Hoping for a push higher and if closing above 80 area, a possible upgtrend follow-through, surpassing MOS trade results.
Although the entry is in the daily, weekly timeframe also merges soon, potenial entry zone for long distance runner, if not, still a valid early trend entry on the small daily-weekly time-frames. hopefully the upcoming momentum will be enough to distance from current location and proceed to the higher timeframes trend potential.
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...
This might look like a long for now, especially on sympathy. But the volume is of concern. Seller/Buyer ratio is on watch.
Still rangebound, and pending any big negative news on its components, IBB should be going up for days(?).
Some price targets (to remind me, really), as the JPM conference happens this week.
JPM conference presentation this week. If it's good, or if $KITE is good, this will move.
Remember to manage your position, take your profit and add when its right. if all goes well, enjoy the ride, highly likely we will need to fasten our seat belt with this one.
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
Wow what a push. We completed micro wave 1 of the larger wave 5. We are consolidating in micro wave 2. Not sure where that will stop but it looks like it wants to walk along the top of that blue wedge. Then a real big push up for micro wave 3 should occur next. And by the looks of Wave 1, I would say it should hit the top of that black upper trend line. That...
I don't think that some comment is necessary. Market is very unstable. FOMC was desapoint traders.
Health Care SPDR ETF is looking good on long term basis, testing its 5-year uptrend On long term basis - XLV is trading firmly in 10 year uptrend (above 1st upper standard deviation from 10-year mean), but due to the recent August selloff the price is now testing its 5-year uptrend. If the price holds above the fist upper standard deviation from 5-year mean, the...
Although we are starting back into another earnings season, I'm just not all that fond of earnings plays; I prefer the relative boredom of index ETF trades or things like sector SPDR's for the generation of steady income as opposed to flash-in-the-plan earnings plays which are generally binary in nature. They either work out quickly and dirtily or go horribly...
XLV could move nicely as the healthcare stocks continue to advance, watch for a breakout with volume to take the trade and stop 8% down