Further to my post of March 9th, and as can be seen on the two Daily charts below, the Financials ETF (XLF) outperformed the SPX and the U.S. $ on Tuesday. With Tuesday's volume spike, the recent bullish Golden Cross of the 50 sma above the 200 sma, and a potential reversal of negative divergences on the RSI, MACD, and Stochastics indicators, these two charts are worth watching over the next days/weeks to come to see whether the Financials sector maintains its leadership over these two instruments.
Slope of Hope Blog Posts
Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
To The Galaxy Far Far Away?
Severe Tire Damage
Bonds Finally Might Be Breaking Down
Bullish on Real Estate
Real estate ETFs are just about the only area recently whose bullishness I actually buy – – DRN, URE, and IYR are all super-looking charts. My largest long (by far), IYR, is poised for a breakout. In an era where it seems impossible to get the market to fall for more than one day (witness last Tuesday – sigh) one has to drum up charts that are not only bullish, but plausibly so.
As I type this, it's 45 minutes to showtime. Good luck, everybody.