The only green the market seems to care about is the "Green" back. There ought to be some movement in the dollar today, if nothing more than "sell the news" into what has been a parabolic dollar move, whether or not "patience" comes out of the Fed statement.
Meanwhile, we're searching for strong stocks in strong industry groups using Chaikin Analytics for iPad and Desktop. Here's a tool we provide for Chaikin Power Users you won't find anywhere else. It's our Sector Trend report. It's a something my trading partner, AA, updates every Sunday. You'll find it in the Market Conditions section of our site.
What I like about this analysis is that it provides a snapshot over time measuring the strength of underlying stocks of various sector ETF's. He uses the Bull:Bear ratio to compare the Power Gauge rating of each stock in the ETF. This can be a very powerful predictor of future relative strength and of stock price movement relative to the S&P over the coming 3 - 6 months. Now you can measure which Sectors are gaining strength and find the best stocks in the best industry groups from those sectors.
Meanwhile, we're searching for strong stocks in strong industry groups using Chaikin Analytics for iPad and Desktop. Here's a tool we provide for Chaikin Power Users you won't find anywhere else. It's our Sector Trend report. It's a something my trading partner, AA, updates every Sunday. You'll find it in the Market Conditions section of our site.
What I like about this analysis is that it provides a snapshot over time measuring the strength of underlying stocks of various sector ETF's. He uses the Bull:Bear ratio to compare the Power Gauge rating of each stock in the ETF. This can be a very powerful predictor of future relative strength and of stock price movement relative to the S&P over the coming 3 - 6 months. Now you can measure which Sectors are gaining strength and find the best stocks in the best industry groups from those sectors.
For example, look at XLY. It's been gaining strength since January, reaching it's strongest point last week. If you have been bullish on Consumer Discretionary because you felt the decline in OIL would benefit these types of stocks, now you have a quantifiable metric to confirm what's in your gut.
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