AMZN has frustrated bulls with its chops, the historical patterns though indicated that prior to earnings, the stock tends to drop lower (as seen on those orange dots) yet they are buying opportunities for longs wanting to participate in the possible post-earnings explosive moves (as it has been in the past 2 quarters). Plan to buy call butterfly of...
Energy (XLE) finds itself back at the top of the sector list for the first week of 2021. It's not something you might expect as the blue wave hit US politics, which doesn't bode well for traditional energy stocks. However, crude oil is over $50 a barrel for the first time since April after Saudi Arabia surprisingly cut output. The blue wave did have some expected...
Communications (XLC) and Consumer Discretionary (XLY) spent about half the week each at the top of the sector list. But it was Utilities (XLU) that would rise at the end of the week as the winner. No doubt a defensive play going into the long weekend and a turn of the clock to a new year. Energy (XLE) had a very short-lived time at that top on Monday morning,...
Since mid Oct, this particular group of marquee Consumer Discretionary stocks - McDonalds MCD, Dollar General DG, Home Depot HD, Lowe's LOW - show a deteriorating pattern which the Dow DJI and the NASDAQ indices do not.
The sectors took on a character we have not seen for some time. Technology (XLK) is back to leading the sectors for this week. Helped by a number of breakouts in technology growth stocks, some of those fueled by speculation in security stocks following a wide and troublesome security breach that impacted both the government and private sector. Consumer...
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Currently at the A=C level. Breaking above the .618 ($0.30) would be bullish/impulsive.
It was a long painful week for all the sectors with the overall S&P 500 index losing -5.64%, worst since March of this year. Utilities (XLU) topped the list of sectors "only" losing -3.66% and remained as the safe place for investors to go to stay into equities instead of the alternatives. There were certainly days that each sector had to shine, but as far as...
This week it was all about Communication Services (XLC) with the positive earnings beat from Snap (SNAP) driving growth in many of the social platform company stock prices. Utilities (XLU) continues to be a safe bet for investors as a sector that is consistently performing well over the past few weeks. Financials (XLF) also had a great week as bond yields are...
Remember that narratives will be constructed every day in financial media based on emotions. The problem with this strategy is that they have already happened! It has already shown up on the chart. So today, we are going to look at one of the most important intermarket relationships. That is Consumer Discretionary vs Consumer Staples, or XLY/XLP. Let’s hop onto...
Previous idea suggested a possible move to MA50 daily. Chart looking bullish, could break higher from here. Next targets $0.22 and $0.26. Falling wedge on the weekly. A break above that upper trend line would imply that we caught the bottom. I still had an order for another tranche at $0.11. DOH!
Finally. I still had a buy order at $0.11, but that one won't get filled now. I've accumulated a bunch, and currently looking for a test of MA50 daily at $0.18.
Never quite recovered from the February sell off. Close to a double bottom, expecting some sort of bounce.
Consumer Discretionary vs. Consumer Staples remains in "risk off" mode.
Technology vs. Consumer Discretionary Are we about to see a significant change in the performance of this ratio? CD outperforming wouldn't necessarily spell trouble for the broad market, but is it seriously time to consider being underweight tech?
XLY terminal push into wave v is facing a wall of parallel channel and fib Resistance zones into 134. Also, notice the impulsive 5 wave pattern facing significant resistance into current levels. For now, the 136 should offer massive resistance that setups for a 15%-25% decline.