relative strength wednesday
Despite the the recent rally, we are hesitant, as defensive lead and cyclicals lag. As noted on the video, a number of the more cyclical SPY sectors have zero bullish names, which skews the ratios a bit. If you are looking for encouraging signs, there are a few. Utilities is struggling here, if bearishness was wide-spread and persistent, we think XLU would be catching more of the bid. Also, while crushed on about every timeframe, Energy out performed on the last week. Will that carry into the next month? We'll see. Watch todays video for our complete Relative Strength Wednesday analysis using the Chaikin Analytics platform. Happy Trading, and be well!
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