#energy AMEX:XLE follows through higher, keeps reversing on the monthly, quarterly target 92.56 (4.8% higher) for the outside candle to complete.
#TheStrat
👀
before a sustainable move into the green 50% rule box. Then proceed to the targets. Ideal scenario, if it traps both the FOMO players AND the bears. #TheStrat
Energy remains the only up-trending sector. AMEX:XLE
AMEX:XLC is the cleanest dirty shirt with an inside month.
Overall, not a good look of the market with the 3 remaining days of the ugly month of September NASDAQ:QQQ AMEX:IWM AMEX:RSP NASDAQ:QQEW
To follow up on the previous post, added a snapshot of multi-timeframe US sector analysis
NYSE:VALUG AMEX:IWM AMEX:SPY NASDAQ:QQQ AMEX:DIA
Data as of September 22, 2023
Many studies show that passive is superior to the active investment approach, and I agree that most money should be managed passively, using low cost broadly diversified index funds. Markets are mostly efficient in pricing securities, meaning there are not many proverbial 20-dollar bills you can find on sidewalks. However, some anomalies have also been...
Pretty amazing nobody is talking about the #momentum crash that erased 3 year gains of this strategy. I guess the lesson here is as much as we like to chase things on the way up, never underestimate the power of value and reversion to the mean! $PDP $MTUM
ETHBTC has gone back to the bottom of the consolidation range now.
I see no edge for going long below 0.032, continue watching these levels as they seem to be important.
A rather deep pullback in gold threatening the trendline from December but into some good support. Holding these levels would be constructive and I will be bullish if gold keeps rallying despite the rising interest rates...
Watching a pullback in crypto, as a technical trader, I find #Ethereum to #Bitcoin ratio descriptive of the general move in this space. (Is it fair to say that like with #silver to #gold ratio this could signal risk on / risk off sentiment in this space that helps understand the direction of the next move?)
Anyway, important levels I watch: Fibonacci 1.618...
ETHUSD has backed off a key level of 750 (50% retracement of the 2018 crash) and violated the short term trendlines. Failure to overcome this weakness may result in further downside.
European stocks were hit hard during the Great Financial crisis of 2008. They have doubled since the trough in 2009 but still below their 50% retracement despite the 2020 relief rally since March lows.
Could tech stocks' strength keep them afloat at this juncture?
Could European stocks derail the world markets' recovery or have they become the 'new Japan' that...
