SERIES FINALE;Episode 11/11: US (SPX) Sectors Technical Analysis Series - 31st of July 2019 (4 Minute Read)
Since this is the Series Finale I will try to holistically summarize the whole series of 11 Episodes on all the US sectors.
The essential notes from this chart are the following(also included in the comments):
1. Compared to the previous expansion of...
... for a .48 credit.
Notes: One of the underlyings on my IRA shopping list, pulling the trigger here on a "not a penny more"* short put at the 52 strike with a resulting cost basis of 51.52/share if assigned on the 52 shortie. The current yield is 3.06% with an annualized dividend of 1.85.
Will look to roll out "as is" at least quarterly for further cost basis...
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Investing position about Supply-Demand(S&D) strength: In Rising section of high profit & low risk
S&D strength Trend Analysis: In the midst of an upward trend of strong upward momentum stock price flow marked by the temporary falls and strong...
I heard some interesting commentary this week from the pros about watching for signs in the cyclical:defensive sector ratio.
I put together this chart using (XLK+XLI+XLB)/(XLP+XLU+XLV).
It is a composite of tech, industrials and materials indexes as a ratio to staples, utils and health sector indexes.
The chart ratio is about 1:1 right now.
In a late stage...
Utilities are a good place to be with the current global slow down and a trade war here and there. Going long XLU should provide you with a good risk reward opportunity. XLU already bounced off the trend line turning up. A stop right under the trend line will limit your losses. Here is the daily chart and how it looks on a bigger time frame....
Utilities are defensive and traditionally do well in summer, when risk stocks suffer from ‘Sell in May’. In the last six consolidations, which often start around May, the price moves up after the consolidation ends.
Overall, the ETF has followed a clear parallel channel for four years now, and it is affected much less by macro events.
Each consolidation has been...
*Massive RSI Divergence
*** Looks like XLU might look to form a H&S, but based on how heavily the RSI has dropped, it might not even bother and just drop. In either case, Short the top of the Right Shoulder or a break of the neckline .... Let's talk about it! ***