FT Trader 20 yrs. Seeker of Trends and Growth. 10 & 30wk lines are my guide. =WxA(W)-LxA(L) Mentor & Performance Coach Walking With You From Mud to Gold. ♥︎
Joined February 2010
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Bot… Report!
Stage 2, advancing (strongest RS first): XOP, XLE, CIBR, SKYY, XLV, XLK, IBB, IGV. KIE, FDN, XLF, ARKK, XHE and IPAY are also Stage 2, but their RS is slightly negative.
Stage 1, basing: XLP.
Stage 3, topping: SMH, XBI, XPH, XLB, OIH, XRT, KRE, COPX, KBE, IYT, XLRE, XLI, PAVE, IAI, XLC, XLY, JETS, LIT.
Stage 4, declining: GDX, XLU, SIL, ITA, XME, XHB, ITB, XAR, TAN, URA.
Only 14 of the 43 ETFs are still in Stage 2, and leadership is narrowing to energy, cyber and cloud software, and healthcare.
$SPY $QQQ
Weakness didn't get bought. $SPY opened flat and $QQQ gapped down 0.35%, then both sold off from the open into lows around 2:00 PM CT. SPY closed down 1.10% at 763.31, at 21% of its range, and QQQ fell 2.49% to 709.85, at 14% of its range. Semis and software led the selling: MU, AMD and SNDK lost 6–7%, and OKTA, SNOW, PANW, PLTR and CRWD fell 8–12% from the open.
Energy and insurers held up, with TRV up 5.3%.
On the 30-day trend, dip-buying is getting thinner. Over the last 10 sessions, weak opens got bought just 2 of 5 times on SPY and 3 of 7 on QQQ.
Monday has no major economic data, so regional bank earnings are the main event: FITB reports before the open, then ZION, WAL, WRB and STLD after the close.
