There really wasn't any question about XLI eventually testing the 98 level, and this week that came to pass. The decline featured the semi-obligatory head fake as feeble holders saw their idiotically placed stops hit.. Deja vu all over again . As usual, the correct idea was to sell at the top which more or… Continue reading 9/22/21 The Far Turn
Tag: XLI
9/7/21 The Homestretch
The long awaited post Labor Day market is here. If we are in a coal mine XLI might be a canary. It has moved down to challenge August lows without making a new high. All in all, just the same range bound action typical of the last 5 months.
8/26/21 The Far Turn
The three powerful white candles, beginning last week Thursday, no doubt convinced panic sellers that things were actually just fine. Of course, it was better to reduce size this week than last week. The seasonality issues with September/October are worth taking into account. XLI hasn't made a new high and is a bad day away… Continue reading 8/26/21 The Far Turn
8/19/21 A Little Volatility
I've been doing research on statistics. When statistics become interesting, we can infer that the market has been boring. However, it's rarely a bad guess to expect market weakness in the September/October period, and it is already late August. Some of the sharper tools in the shed, are tuning into that. The good and bad… Continue reading 8/19/21 A Little Volatility
7/19/21 The Backstretch
430 and 427 proved to be nothing, one would expect there to be some support at one or both of those areas. I published this chart a while ago which has a line at 424 which was the base of the June-July breakout. If the breakout structure tips over the low will be 414 which… Continue reading 7/19/21 The Backstretch
6/18/21 Probable xLH, XLF and XLI
XLI has been a critical component of market strength and this weakness is worth noting. XLF has been moving up with XLI and is also in a precarious situation. This week SPY fell from the Upper Cycle to the middle, and today probably to the lower. Specter/FF5s goes long mechanically if x00 appears Monday afternoon.… Continue reading 6/18/21 Probable xLH, XLF and XLI
5/10/21 Natural Log Charts
I was working on Excel charts over the weekend. A year or so ago, I had some pivot charts with long and flat strategy return streams where Long + Flat = CC (Buy and Hold). The charts above are not pivot charts and CO + OC = CC. Important observations include: OC (gray line) outperforming… Continue reading 5/10/21 Natural Log Charts
4/15/21 Sifting Through The Carnage Of Backwards Day
The 2nd law of thermodynamics as it applies to the stock market may still have adherents. but yesterday showed it to be a little questionable. Personally, I'm a big negentropy fan, but some of that is just the name. The interesting backwards day phenomena is clearly visible on all the lists except value. The 21… Continue reading 4/15/21 Sifting Through The Carnage Of Backwards Day
3/23/21 Afternoon Signals xCF
xCF hasn't been good CO recently but the older numbers override that. There is no rotation of strength into other sectors today, IWM, XLE, XLI, and KRE, the recent leaders, are all quite weak today along with XBI and SMH. Still not a bad place to be long here. I'm doing some rethinking of quatz… Continue reading 3/23/21 Afternoon Signals xCF
2/1/21 Current Signals x03/x0
Index futures stabilized about half an hour after the open on Sunday night and that was pretty bullish. The easy read seems to be XLI: As long as the gap marked by the horizontal lines isn't filled things aren't going to be too bad and the action suggests that isn't happening today. It's still a… Continue reading 2/1/21 Current Signals x03/x0
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