Trade of the Week
ETF Sector Relative Strength Corner: Consumer Strength Leading into Q4
Consumer Discretionary (XLY) The Discretionary sector has been showing relative strength all month as it actually hit new 2021 highs last Friday before the market dip. After the market rebound this week, XLY is nearly at new highs again as it cleared its monthly value...
ETF Sector Relative Strength Corner: Transformational Data Sharing Group
BlockChain (BLOK) The Blockchain index invests in companies involved in blockchain technology behind cryptocurrencies like Bitcoin. It's up 33% YTD and has shown support at this 45 level throughout the summer. During the recent selloff in Crypto assets based on China...
ETF Sector Relative Strength Corner: Tech Mega Caps Look to Hold Support
Internet (FDN) The Internet index has shown some relative strength this week, during the market weakness it was able to bounce off lower monthly value support and continues to use the 21 week EMA as support longer term. If it can close the week above this level near...
ETF Sector Relative Strength Corner: Medical Device Group Staying Alive
Medical Devices (IHI) has been showing relative strength as it trends above the 21 and 55-EMA since early summer. The group was only down 1.3% during Monday’s market meltdown and held the top edge of monthly value on the dip. A strong trend that can continue in a...
ETF Sector Relative Strength Corner: Leisure Group to Outperform
Leisure & Entertainment (PEJ) is the ETF for Dynamic Leisure and Entertainment stocks within the Discretionary sector. It has been showing relative strength as of late after finding support near the YTD VWAP during a summer pullback from recent highs. PEJ is flat...
Top Biotech Setting Up for New Highs
Horizon Therapeutics (HZNP) starting to move above monthly value last week and coiled in a multi-week range under recent highs at $111.70. Shares are following the rising 55-EMA higher since early July and breakout continuation has a measured move to $120 with both...
Credit Spread of the Week: Oversold Networking Leader
Twitter (TWTR) - Twitter has been pulling in to its 200 day EMA and near YTD VWAP since reporting earnings in late July. It bounced back above 62 last week and closed strong in a weaker market so a good risk/reward to look for the 60 price level to hold as RSI tries...
ETF Sector Relative Strength Corner: Automatic Technology Revving Up
Robotics and AI (ROBO) is the ETF for Robotics and Artificial Intelligence and has been a strong performer of late after consolidating its massive 2020 gains of over 45%. ROBO is up 3.3% in September while the overall chops lower. The weekly chart based against its 34...
ETF Sector Relative Strength Corner: Mining Group to Shine
Metals and Mining (XME) is looking ready to break out of a 3 month trendline as it flags below the 45 level recently. A solid trend in the first half of 2021 paused this summer as it consolidated back towards its YTD VWAP. Since then has moved back higher and now...
ETF Sector Relative Strength Corner: Pockets of Tech Strength
Semiconductors (SMH) have been showing relative strength as most other larger cap tech stocks pull back into September expiration week. Tuesday the group actually made a new 52 week high. Very impressive action with the trend persisting higher. The 21 day EMA and...