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MACRO VIEW: XLI HOLDS 10-YEAR UPTREND, STILL NOT BACK IN 5-YEARXLI holds 10-year uptrend at the august selloff, but did not yet recover its 5-year uptrend. On long term perspective price has failed its 5-year uptrend (fell below 5-year uptrend border) and tested its 10-year trend during the august selloff (tagged the 10-year uptrend border). The 10-year uptrend test proved successful and the price has been recovering since then. On short term perspective nothing stands in the way of the recovery, as price is showing no short term trends - XLI is trading within 1st standard deviations from 1-year and quarterly means. Thus price is likely to return into long term uptrend if it breaks above 55. Downside risk will be apparent below 50 level.
AMEX:XLILong
by Killy_Mel
5 Reasons Why I Believe a Correction is Due1. I measured the distance off the Ichimoku Cloud, just before markets crashed in 2000 & 2008. We are definitely way too above the cloud support right now (Approximately $69 off the cloud support or 56.27%), let alone the 50 & 200 moving averages. 2. Assessing the data after 1994, the JMA2 moving average is currently in the longest uptrend streak ever, which has been running for 729 days. The uptrend is noted by the white line on the candles, and black line is the downtrend. 3. RSI on a monthly chart has faithfully indicated prior to the previous 2 market crashes, as shown by the pink circles. 4. Jurik Research's JU_VEL shows the momentum. It is at the highest reading ever since 1994. Momentum seems to be peaking here and from the chart it's obvious what happens after that. 5. Notice the volume dropping - but the momentum & price gaining. These price levels are paper thin, I believe it is very fragile. All good things come to an end - but it is probably for the bigger good of the market. Here's a very fascinating read about the Bradly Siderograph and how it applies in 2014: www.seeitmarket.com Follow me on StockTwits: stocktwits.com
AMEX:SPYShort
by icypuma98