Episode 10/11: US (SPX) Sectors Technical Analysis Series - 31st of July 2019
Brief Explanation of the chart(since everything is labelled on there): (30 seconds read)
First and foremost: Similarly to the XLRE Index, the XLC was formed even more recently(2018), so obviously due to the lack of data this analysis should be seen at most as informative. In...
As you might know, I love my divergences. I think it is one of the easiest ways to spot reversals without lag (i.e. Basically every other indicator will tell you to get in after the reversal occurs. A divergence will get you in before it happens). The only caveat is sometimes it takes multiple drops before the reversal occurs. This means that divergences are great...
Whats up Traders
For the same reasons that we have been playing the bear on the XLK - we will be looking to play the bear on the XLC.
DYOR - check out the composition of this ETF, and explain to me why moving through the midterms you think it will do well?
Best of luck everyone, on all of your trades.