Whilst I enjoy analysing the ES, I only day-trade the ES and never hold overnight positions. For situations where I swing trade, I prefer to use the SPY. Not enough time to go into why as I am just about to head out to run some errands. However, the analysis and framework of price is the same.
In future posts, I intend to show you at least one simple way I look...
bitcoin bounced off its long term support, there are 2 options, we could be sat in the accumulation zone of 6400 for a while or be continue the trend and slow decline to below $5000
now what is even more interesting is BTC below $500 would open the doors to a huge cup and handle so keep your eyes peeled, this is the best case scenario!
We have updated our monthly publication - US Sectors Relative to S&P500.
It is an overview of the major US sectors, and covers, amongst others, Consumer Discretionary, Consumer Staples, Energy, Healthcare, Technology and Financials.
Within several ratings changes, we have Downgraded Financials to Underweight.
On an absolute basis, the US Financials ETF XLF is...
Gapping higher to test 120.00.
Consolidation to develop, with limited downside tests.
Fresh gains confirmed above critical resistance at 120.40.
Bull Signal intact at 116.73
Stop has been raised to 118.84
Break below 25.65 putting focus on the 25.40, (50%) Fibonacci retracement of the 2016-2017 rally.
An unexpected close above 25.65 will help to stabilise prices.
Bear signal from 26.15 intact.
Stop lowered to 25.71
Selling pressure increasing.
bear Signal at 26.15 deepening.
Potential for a break below the 25.94 Fibonacci retracement and 25.93 low of 16 February.
Bearish studies to limit any immediate bounce.
Stop Loss lowered to 26.27.