Seems risky to chase at this time. RSI14 daily is high,
although the "measured move" off the IHS or cup and handle seems to
have more room. I wonder what Demark would peg this as?
Is there an easy way to get a Demark labelling?
I'm in for around another 5-10% upside on the names that I was
eyeing, but I've also been in since the beginning of last week when
they had a horizontal breakout. Based on weekly and monthly
charts
Utilities continue to rock n roll
Posted by matt on 8th of May 2024 at 10:52 am
XLU - Chart Link-
Seems risky to chase at
Posted by steveo on 8th of May 2024 at 10:55 am
Seems risky to chase at this time. RSI14 daily is high, although the "measured move" off the IHS or cup and handle seems to have more room. I wonder what Demark would peg this as? Is there an easy way to get a Demark labelling?
I'm in for around another
Posted by foody518 on 8th of May 2024 at 01:29 pm
I'm in for around another 5-10% upside on the names that I was eyeing, but I've also been in since the beginning of last week when they had a horizontal breakout. Based on weekly and monthly charts
Steveo - Which time frame
Posted by DigiNomad on 8th of May 2024 at 12:37 pm
Steveo - Which time frame are you looking to label? This is the 10m and the daily.
Classic late cycle asset class moves with some inflation panic mixed in.