This is how I get a general feel for the market AMEX:SPY NASDAQ:QQQ CME_MINI:ES1! CME_MINI:NQ1! .
First, simply looking at the relation between NASDAQ:QQQ and AMEX:XLU
This is to get a gauge by asking.. is the market buying tech/growth, or is the market buying utilities (which is more of a bear market exposure "safer" sector)?
I don't get complicated...
If price can holds within this channel, looks like a great entry price. Will need to monitor price compared to the overall market to gain confidence the sector will be resilient, but there's potential.
Utilities are one of the few parts of the market to hit new highs recently. Now, after a pullback, some dip buyers may get interested in the sector.
This chart of the SPDR Utility ETF highlights the $71.10 level where prices peaked in February 2020. XLU was stuck below its old highs throughout the pandemic, and only broke out in March 2022. It’s now pulling...
The market has gone through so many trend cycles in the past few years. Sometimes trends last a few days, weeks, months or even years. Clearly the 2022 trend so far has been Energy, Commodities & Utilities. What do you think the next trend is and how long do these trends last? Drop a line with your ideas. Here's a 3-split chart of XLU, XLE & COMT, 15m, 1hr & 4hr...
XLU formed a bullish flag pattern after breaking out of a descending trendline recently
Price has broken and closed above the flag which is the resistance on 15 March
Long 700 shares at 71. 01
Stop loss will be previous pivot low
I have noted many are seeking out utilities for a bit of stability.
XLU is an ETF slammed packed with utilities. It is a product of the SPDR ETFs.
Cypher which has the 2nd leg retracement pull between the .382 and the ,618 This one appears to have pulled to the ,618. Labeled XABCD and stop is below D somewhere. Peak 2 is higher than peak 1.
This could be...
XLU = Utilities +5.27%
IYR = Real Estate +3.10%
IYT = Transportation +1.57%
XLF = Financial +1.51%
XLC = Communication +1.19%
XLK = Technology -0.32%
IBB = Biotechnology 0%
XLE = Energy -0.59%
SMH = Semiconductor -3.17%
XRT = Retail -6.15%
Do your own due diligence, your risk is 100% your responsibility. This is for educational and entertainment purposes only....
A Wolfe Wave is a chart pattern composed of five wave patterns in price that imply an underlying equilibrium price. Investors who use this system time their trades based upon the resistance and support lines indicated by the pattern.