Rana Sugarsrana sugars 1w tf breaking out of zone.
can keep on watchlist if sugar sector breaks out this can give a big move.
Sectortrading
it looks like semiconductors are busti imagine this down move in semiconductors is going to push mich lower, and soxs is a long at these levels into the upper 70s. the signal moving average is green on this inverse.
consumers starting to spend less money againin times where this is above 2 consumer defensive is winning out, and in times where this is below 2 consumers are spending more money and buying consumer discretionary goos/services. recently this chart peaked, and now weve retraced and it is reversing again. probably going to set a lower weekly high, but qqe is long and sss is green so the defensive funds are probably the best bet in terms of consumer goods.
i like semiconductors correcting from oversoldsome meaningful bounce is taking place in big tech at least intraday, andsemiconductors as a lead bear are taking part. SOXL is trapped under yeasterdaysgap up, and todays gap up. ive marked outlong short pivot and drawn a bull and vear scenario. there is no bias, but i am long semiconductors when price is so low, at least intraday.
short at key resistance levelsthis ramge will continue to tighten, and we will likely get a bear break. above pivot target upper horizontals below pivot aim for lower horizontals. semiconductors have been a major focal point of this bear market, and they will be a big recovery story when we exit it.
looking for signs of temporary bull exhaustionthe rally has been very strong for a week, and im looking toward the resistances carved out over the last few days to find a bear entry scouting hourly rsilevels and sss signal to turn red qqe making a short entry
range should tighten for 5g stocks (FIVG)weve retraced about to the .5 and if we see a bounce here a tightening range is the most likely scenario which is my bias long here according to qqe, rsi
energy is another sector looking for a higher low (XLE)energy bullishness is another sector rotation play that makes me think were in a better place than some seem to believe. i think we will experience additional bolatility for the time being, but so will the markets at large. we should keep a decent uptrend, unless the pullback proves more retracement than risk tolerance for outflows can support.
the long and short of it is thag bulls have given themselves room to work with, even if we go sideways for a while.
financials sector enjoying a lead on indices (XLF)XLF is one of the instruments whose sectore had a larger terminal upthrust than others, and is enjoying a more sizeable bounce than others after the current peak in volatility.
big names like V, PYPL and BAC are putting up enoughbof a struggle to say that they have tolerance to attract inflow from key players (sm, mm, tutes, pros).
it will be interesting to see if we can confirm a higher low before tech returns to help carry the market, making way for a larger comeback that could enjoy a solid outperformance on indices; at least for the time being.
healthcare is outperforming the broader market (XLV)when an overweight sector corrects with the market volatility is higher in general, but thats why it bounces so much more quickly and outperforms other sectors in the same trend.
sector rotation will have a play in healthcare if we find a higher low, and bulls have given themselves room to complete that reversal.
we should make a higher low somewhere, even if its closer to the bottom than i anticipate, and continue to rally faster than other parts of the market as stocks benefitting from inflow seeking value accumulates.
