ridethepig | The Tide Is Turning...
Updated
A good time to update the Utilities chart as it makes its first appearance here on Tradingview. The strength of the rally in cyclicals this month has been nothing shy of impressive but we are now heading into resistance.
Defensives still look relatively strong, despite technical patterns starting to top in things like Consumer Staples:
The map is clear that we are still yet to have a relative breakout in Cyclicals vs defensives as shown above, although it remains too premature to say that this is a bullish break on the SPX.
On the FX side, USD devaluation will help and yields finding a floor indicate smart money is turning the titanic. It should now be a matter of 'when' rather than 'if' Utilities are going to breakout assuming we do not get any major updates on the impeachment front.
Jump in with your comments and ideas on US Equities ... All the best...
Defensives still look relatively strong, despite technical patterns starting to top in things like Consumer Staples:
The map is clear that we are still yet to have a relative breakout in Cyclicals vs defensives as shown above, although it remains too premature to say that this is a bullish break on the SPX.
On the FX side, USD devaluation will help and yields finding a floor indicate smart money is turning the titanic. It should now be a matter of 'when' rather than 'if' Utilities are going to breakout assuming we do not get any major updates on the impeachment front.
Jump in with your comments and ideas on US Equities ... All the best...
Comment
882 acting as solid resistance as anticipated...
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