It was easy to laugh off the capital gain tax hike ERX and GUSH are added. The chart shows that picking winners was tough over the last 21 days. The 1x sector Etfs make more money with less risk. The SMH and XBI negative returns are annoying but not disastrous like LABU and SOXL. Not… Continue reading 5/5/21 Afternoon Signal xHL
The Feb/Mar 2020 fastest decline in history looks like nothing special on the monthly SPY chart. If we consider equal wave sizes: Low = 215Intermediate High = 355Intermediate Low = 320355 - 215 = 140Projected High = 320 + 140 = 460 When I did the calculation in Nov 2020 (I think) it didn't seem… Continue reading 4/27/21 The Homestretch
If a kidnapper of a close family member demands that you invest in either XLU, XLB, or XLV probably the choice is between XLB or XLV. They both look pretty good today, showing breakouts above congestion. Mining is the hot area today. Steel has not been strong lately but still the leading industry. The win… Continue reading 4/15/21 The Homestretch – Healthcare and Materials
Turned out to be the right move to cut IWM loose when it started behaving badly Apr 5 and 6. SPY/QQQ/ and IWM were quite bullish in late March/early April. This formation shows some intermediate tops. This could tip over, in which 234 - 208 = 26, 226 - 26 = 200. That fate is… Continue reading 4/13/21 Into the Homestretch
The dog of growth is is once again biting the man of value. SPLV, USMV have been about as bad as value funds get in a bull market over the last year, but their recent performance is approaching respectability. LABU/XBI/IBB look like they might keep it together OC for a change today. The USMV and… Continue reading 4/8/21 The Far Turn
xFF is unusual considering the action yesterday where CC was negative, but SPY made a higher low and higher high even if the close was slightly below Fridays. The way to play the 3x Bulls for the last few years has been to buy CO and sell OC. Note that all the equities listed (including… Continue reading 3/30//21 Current Signals xFF
Interesting news recently with the Suez and Acheron, even if it is not clear what to make of it from a return perspective. xHL is not a mechanical buy signal. It made a nice profit in the 111 day period from 8/25/20 - 2/2/21 because these signals were tending to resolve to xFF. That doesn't… Continue reading 3/29/21 Current Signals xHL
Somehow, we survived the excitement of the Fed announcement. Upper cycle action has been weak lately but SPY is holding above the important 394 level. o1 CO is a good place to play long.
Looks like the bubble boys are still a little early with their pop predictions. We travel through time at the speed of light; even the biblical prophets had trouble coming up with exact dates. The OC session looks a little iffy here if the idea is to make a lot of money going long..
I posted the current signals a little earlier than usual and the sharp decline into the open changed the cQuatz into something good OC. I mentioned XLI seems important to me a day or so ago, as it seemed technically precarious 5 bars ago, hovering over an important gap. The fact that it took off… Continue reading 2/24/21 Afternoon Signals xMM/o1>c1