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S&P 500 $SPY vs consumers staples $XLP falling off a cliff just isn't something bulls want to see.
Consumer Staples (usually a defensive investment) are taking precedence over Consumer Discretionary (usually aggressive posture, when all is well) in October. We are pressing lower and showing the largest drop in a while. This is potentially a leading indicator of some kind of slowdown coming.
Bullish here as long as the 50% Retrace line holds at 53.87. Shared my trade as well. Cheers
XLP lining up bullish on the daily above 54.52 support with 50/200sma prepping golden cross (daily chart) and on the weekly chart 20/50ema golden cross prepping to confirm as well. This move could be extended over the next 1-2 quarters but will take time. As SPY pushes new alltime highs (again) I expect this to help as a minor catalyst to the already bullish setup ...
This rotation into XRT from tech, seems like a bad sign to me. Institutions getting defensive? Nevertheless, I don't expect it to move much higher. I could be wrong...
Bearish 5-0 pattern with reverse bearish divergence.
Some new bullish signals for Consumer Staples sector:
Solid Price action over SMA(20d) and SMA(50d).
SMA(20) crossed the SMA(50) the last days of the past week (Golden Cross!).
A good strategy to go long is to wait for a correction around the SM(20d).
Consumer Staples, folks need to eat.
Ofensive Sector (Tech + Discretionary) vs Defensive Sector (Utils + Staples) on SPX index.
Well let's see where we go from here $XLP.
Re-test of breakout point, before further downside.
Consumer Staples slump due to amazon effect, higher interest rates, weak earnings performance, trade wars.
Multi-year technical support level and divergence in recent drop from all time high.
Value managers buy the dip. Play the bounce.
Well , we broke the highs in this pair. This shows that investors still think that the dip was as its called , a dip. I will be watching the first zone demarcated by the rectangle. That's the floor and should hold, if not , We are in for a rough ride.
Hi, my name is Spencer and it's been a long time since I've posted any ideas. I use to be a forex trader for many years and due to time constraints with my great full time job and becoming a dad, I've switched to trading stocks and specifically options.
For this trade, I am entering a short position on XLP by buying the 55$ strike for about 5 dollars per ...
XLP is just getting started and is lagging a bit. Im looking to take profit above $54 strike. So far so good. Lets see it contiue the break out similar to how SPY has.
We are still in a pullback area in the SPX , and we are very close to lows . That prompted me to investigate what are people doing , are people long or bearish the SPX. With further investigation, This ratio shows that a sector rotation out of Staples into energy is not underway , far from it. I hence think that the lows in the SPX are going to hold.
Here we broke through the lows, that confirmed that this sector is weak. So here is a simple setup. I want in if and only if we have a lower low , immediately XLP makes higher highs , I would be wrong.