NASDAQ:SANA is offering two potential scenarios. The first is a breakout of a descending trendline after a lengthy consolidation. These are some of my favorite patterns to trade. I'd look to take profits in 3 stages that start with the fib resistance areas and recent highs, and end with anticipation of resistance at the volume weighted average anchored to IPO...
XLB materials sector saw a nasty down day today despite the S&p500 closing positive. Clear relative weakness is being observed. One of the leading stocks in XLB : DD (Dupont) collapsed by 14% after issuing weak forward guidance ahead of their earnings. If they're expecting softer demand from China you can almost count on contagion through the sector.
Investors waiting for a more probable long term support zone could wait until price action retraces to the top of the channel . This channel has kept price action in check since the early 2000/s We only broke out of the channel when we expanded the monetary supply and lower rates to zero.
Materials Sector is getting oversold on the daily chart and tagging a key daily upsloping trend line. A technical bounce is favoured at this level, however there is a weekly support level lower that is much stronger if this were to sell off more. This bounce may only last a few days unless the indices firm up.
Lots of weakness in many Material stocks. Material stocks are leading indicators for aspects of our economy. This pattern trendline breaks and it could signal a massive decline.
On the verge of breaking lower...if it holds this neckline it could push higher. Below all key Moving Averages
Discussing all the leading sectors 0:15 XLK 1:40 XLV 3:45 XLY 4:45 XLC 5:37 XLP 6:26 XLF 7:33 XLI 9:00 XLU 10:54 XLRE 12:14 XLB 13:15 XLE
Looking into all the major sectors of the S&P 500 to see if this breakout can be trusted. we review all sectors on a weekly basis to provide insights of the overall market. Most sectors have not broken out & trading at major resistance.
What is not to like about this chart. 30.08 ROE, low debt ratios, good margins and cash flow. Solid trend on weekly, looking for starter entry around the dashed red line or the top of the cloud (198.69).
The worst may not be over. A 8% inflation is very hard to fight even with monetary & fiscal policy because the FED could only control the demand side & not the supply side of inflation. With the FED making it very clear that it wont stop until inflation comes down, we may be seeing aggressive rate hikes leading to layoffs & demand destruction in the near future &...
APB has formed a bull flag . Watching this week for a breakout to the upside. Note the volume .
X (United States Steel Corporation) stock price has double-topped below $38.57. Bearish momentum (MACD) has down-crossed on a daily time frame. Entry (short): $37.25 Profit Target +12% (exit): $32.76 Stop Loss -6% (exit): $39.49 Utilize stop loss, profit targets, position sizing, and risk management. Note: Many stocks and ETFs have already rallied up for the...
Trading plan on chart. Need a break and retest of the $94 area before adding positions. Favoring a corrective wave to add new positions. Earnings season could be the catalyst to spike into an ending diagonal (pointed out on chart). This could be one of the top sectors for 2021 but I'd like to wait for a pullback to add. If you get anything from this post please...
Energy (XLE) topped the sector list this week after the OPEC Monthly Report on Monday projected that demand for oil would exceed pre-pandemic levels by next year. The sector also got a boost from Crude Oil Inventories data released on Wednesday that showed much higher demand than expected. Consumer Discretionary (XLY) moved into second place after great Retail...
SNIPER STRATEGY This magical strategy works like a clock on almost any charts Although I have to say it can’t predict pullbacks, so I do not suggest this strategy for leverage trading. It will not give you the whole wave like any other strategy out there but it will give you huge part of the wave. The best timeframe for this strategy is Daily, Weekly and Monthly...
Materials (XLB) led the sector list for the week, getting a massive boost on Tuesday and Wednesday after the Infrastructure bill passed the Senate. Industrials (XLI) also got a boost from the bill. Financials (XLF) contented for the top spot, gaining from rising Treasury yields that positively impact performance for the sector. However, yields dropped on Friday,...
The U.S. Senate voted to advance a $1 trillion infrastructure package on Saturday. XLB may be benefited from this package. Bias on the upside. TP: $89 Trade Safe
Materials (XLB) was the top sector of the week as manufacturing and core durable goods data showed increase demand and was confirmed in consumer spending numbers. The growth in the sector was matched by increased prices in metal commodities required to support economic expansion. Energy (XLE) started the week strong and led several days throughout the week, but...