Happy Halloween! The market has been a little less spooky in the final days of October, after experiencing a pretty deep sell-off, at least in the context of recent years. The sell-off was accompanied by some rotation, which we flush out in todays Relative Strength Wednesday video. The newly released Chaikin ETF Power Gauge has recently turned bearish on the XLE and remains bearish on the XLI. Both underperforming the SPY and providing negative returns in each of the time frames we track. Sectors remaining or turning bullish are all very defensive, including XLP, which in addition to recently earning a bullish ETF Power Gauge, has made a bullish technical move, which we discuss. XLRE also earns a bullish Power Gauge, but the powerbar ratio is pointing to weaker performance ahead. Join us for our weekly Relative Strength analysis HERE
0 Comments
Leave a Reply. |
Archives
February 2021
|