Here is a snapshot of the major US Sectors. Some sectors
(XLF, XRT, XLY, IYT, etc.) are exhibiting potential HS patterns
with this recent bounce putting in right shoulder (watch for lower
high). Other sectors are starting to show signs of exhaustion after
big upside moves (XLU, XLP, XLV, IYZ, etc). Take a moment to
examine in conjunction with Matt's newsletter this evening.
alslayton- note we
do have all the sectors and tons of charts listed in the market lab
section of the website, however we do not have them annotated, but
the URL's are there to pull up the charts, here's a URL, again it's
in the market lab under chart resource
you should read the blog and listen to the newsletters - I
covered that last night and even stated it below a couple hrs
ago
Otherwise we'll see what the market
does here, it could also form a triangle and attempt to form one
more high to trick both the 'bulls' and the 'bears' who are not
expecting that, or form a flat, or top out in here in the upper
1570's, again let's see how it plays out
holland- hard to
say, the marekt could still form a lower high or triangle,
retracements can be quite deep, and could it form another high,
sure, that's why we always say everyone has an opinion on what the
market is going to do, but in the end you have to reaction to price
action vs being locked into analysis that it has to do this or
that. You can also take shots at resistance areas with tight
stops
otherwise you are on free trial, it takes a while to get a good
feel for this stuff, therefore after you become a member after your
free trial, schedule a free tutorial with Steve. He doesn't
do them with trial members because it takes 2 - 3 hrs of personal
time, therefore it's only a service for paying members, but you
will become a better trader and learn some valuable tips.
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Sector Review
Posted by steve on 22nd of Apr 2013 at 08:20 pm
http://breakpointtrades.com/market_analysis/legacy.php?nl_id=1533
Here is a snapshot of the major US Sectors. Some sectors (XLF, XRT, XLY, IYT, etc.) are exhibiting potential HS patterns with this recent bounce putting in right shoulder (watch for lower high). Other sectors are starting to show signs of exhaustion after big upside moves (XLU, XLP, XLV, IYZ, etc). Take a moment to examine in conjunction with Matt's newsletter this evening.
Steve
Sector Snapshots
Posted by alslayton on 23rd of Apr 2013 at 01:51 pm
Steve, this is quite useful to have as a reference. Any chance you can include it in the Dynamic Stock Links or something similar?
alslayton- note we do have all
Posted by matt on 23rd of Apr 2013 at 02:32 pm
alslayton- note we do have all the sectors and tons of charts listed in the market lab section of the website, however we do not have them annotated, but the URL's are there to pull up the charts, here's a URL, again it's in the market lab under chart resource
http://breakpointtrades.com/market_lab/index.php/annotated_charts/#market_sectors
does anyone else feel the S&p want to test the highs... not rolling over at all...
Posted by holland on 23rd of Apr 2013 at 03:14 pm
has anyone given any credence to forget the double top and keep on trucking??? That would confuse everyone?
Posted by holland on 23rd of Apr 2013 at 03:30 pm
you should read the blog
Posted by matt on 23rd of Apr 2013 at 03:32 pm
you should read the blog and listen to the newsletters - I covered that last night and even stated it below a couple hrs ago
Otherwise we'll see what the market does here, it could also form a triangle and attempt to form one more high to trick both the 'bulls' and the 'bears' who are not expecting that, or form a flat, or top out in here in the upper 1570's, again let's see how it plays out
holland- hard to say, the marekt
Posted by matt on 23rd of Apr 2013 at 03:26 pm
holland- hard to say, the marekt could still form a lower high or triangle, retracements can be quite deep, and could it form another high, sure, that's why we always say everyone has an opinion on what the market is going to do, but in the end you have to reaction to price action vs being locked into analysis that it has to do this or that. You can also take shots at resistance areas with tight stops
otherwise you are on free trial, it takes a while to get a good feel for this stuff, therefore after you become a member after your free trial, schedule a free tutorial with Steve. He doesn't do them with trial members because it takes 2 - 3 hrs of personal time, therefore it's only a service for paying members, but you will become a better trader and learn some valuable tips.