Macro-Monday
As we continue to refine our trading plans for Q4 and beyond, you can always find our weekly analysis in the MARKET CONDITIONS section of ChaikinPowerUser.com
While the XLRE continues to weaken following the strongest week we've seen for interest rates in some time, curiously, XLU remains strong. As you might expect, financials showed strength as the Bull / Bear ratio on the XLF shot from below 2 to the 5 you see here.
While the XLRE continues to weaken following the strongest week we've seen for interest rates in some time, curiously, XLU remains strong. As you might expect, financials showed strength as the Bull / Bear ratio on the XLF shot from below 2 to the 5 you see here.
Speaking of Bull ? Bear ratios, the ratio of bullish to bearish stocks on the SPY has dropped below 1.5 from the recent high of nearly 2.7 (9/24/18). While the technicals on the SPY are beginning to show some of those "red splotches" we talk about. As money flow has turned slightly negative price has now fallen below the LT Chaikin avg. In this weeks note to subscribers, Marc Chaikin identifies 287 and 280 as key levels of support on the SPY.
We will continuously update the Market Conditions section of ChaikinPowerUser.com. Join us Wednesday for our next Relative Strength Wednesday. We have a feeling it could be an important one.
We will continuously update the Market Conditions section of ChaikinPowerUser.com. Join us Wednesday for our next Relative Strength Wednesday. We have a feeling it could be an important one.
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