Loading ...MONTHLY CHARTATHON
Traders zoom in to the daily hourly and minute charts to get an edge
BUT….we tend to forget the BIG PICTURE SOMETIMES
ZOOM OUT
THESE 20 YEAR MONTHLY CHARTS SHOW SOME SHOULDA WOULDA COULDA MOVES THAT WILL KNOCK YOUR SOXS OFF
ONE MORE DAY IN THIS MONTH BUT THIS WILL DO .
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SOX (Semiconductors)…BULLISH
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BTK (Biotec) …..WOW…TOO LATE TO THE PARTY ? WHILE YOU WERE FOCUSED ON PMS IN 2009 !!!
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XLF (FINANCIAL SECTOR)…METHINKS THIS WEEK WAS NOT JUST A FLASH !
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XLE (ENERGY SECTOR) …TOPPED 1 YEAR AGO…LONG WAY DOWN
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IYR (REAL ESTATE INDEX)…THEY ARE NOT MAKING ANY MORE LAND…STILL STRONG ?
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GOLD ……ARE YOU SURE THE BOTTOMZ INN ?
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XAU…….MAJOR GOLD MINERS…BUY AND HOLD !!! ?
Excellent charts and perspective FGC! The SOX chart is interesting and I agree it looks like it’s in a process of backtesting a gorgeous saucer base. However I think it needs more time and probably would be a good buy at 550 sometime later in 2016 I’m guessing. What we witnessed last week was not a flash crash….it was a warning shot across the bow and people are taking it too lightly. We will look back in a few months and say “Who didn’t see this coming after that August warning?!”
IYR is a huge bubble waiting to burst as soon as the liquidity starts to be taken away (if it is ever taken away). Real estate investment trusts thrive on easy money and low interest rates. IMHO