I started following the correlation of XLY(SPDR Consumer Discretionary Select Sector Fund)/ XLP(SPDR Consumer Staples Select Sector SPDR Fund) to identify when the stock market (SPY & RUT) could be changing the trend direction.
Notice how XLY/XLP called the trend change in SPY and RUT back in July 2007. Notice how XLY/XLP called the trend change in SPY and RUT...
I spotted some very high volumes coming in right at the end of market close and during after hours trading on XLI. Massive volumes = institutional traffic. However, price levels didn't actually move much until late into AH trading, when a tiny amount of volume (orders totaling 102 only) did a gap up in price to $63.88. This suggests a gap up breakout could occur,...
XLI (industrials ETF) at kep uptrend support from 2009 lows
Important to hold these sorts of levels if market is to move higher directly from here
Otherwise a decisive break would be longer term bearish
RSI is at 2011 levels
XLI has been forming a massive head and shoulders pattern over the last year. Price is now just below my 3% breakout level of the horizontal boundary at $83.38 with a measured price target of just over $100
In an Up Channel
Broke-out of Ascending Triangle and may be testing support for a 2nd buying oppurtunity
Also Seasonality of % Months XLY outperforms SPY over last 20 Years is 50% for Jan and 70% for February.
This technical analysis was conducted using the Swing•Genie Cycles swing trading indicator on a 2-day chart. It typically takes between 1 and 10 days from the time the Swing•Genie Cycles indicator prints a dot on the chart for the trend to demonstrably change. A green dot is a bullish signal, a red dot is a bearish signal. Swing trades using this system typically...
Coming to the end of a triangle pattern, this asset has been coiling up like a spring with tighter and tighter range bound movement. Taking into account that hoilday season is just around the corner, I like this asset going forward
A two-day green dot (trend change confirmation) has appeared on XLY signalling a strong buying opportunity. Trade with WANT (3x leveraged ETF).
This technical analysis was conducted using the Swing•Genie Cycles swing trading indicator on a 2-day chart. It typically takes between 1 and 10 days from the time the Swing•Genie Cycles indicator prints a dot on the...