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Preface to all four parts: This weekend, I’ve taken some favorite exchange-traded funds (ETFs) and broken them into groups. I’ll share a few thoughts about each of these below, and as always, clicking on any chart will make it fill your screen, whatever size that may be.
This is one sector where I’ve been whipped for the past few weeks. Commodities – -energy in particular – – simply keep bullying their way higher, almost without a downtick to be seen.
Can someone tell me if I’ve taken a time machine back to 1978? Because I lived through 1978, and I’m seeing a lot of familiar things:
And just in case I didn’t get the memo, on this very morning I was walking my dogs and saw these signs. I daresay the majority of people who see the ERA YES sign will have no idea what it’s about. That’s no surprise, because the Equal Rights Amendment was a hot topic from 1972 through 1977, and it’s been effectively dead ever since. I also want to applaud the Irony Gods for placing the only truck in the city limits of Palo Alto next to these signs.
Preface to all four parts: This weekend, I’ve taken some favorite exchange-traded funds (ETFs) and broken them into groups. I’ll share a few thoughts about each of these below, and as always, clicking on any chart will make it fill your screen, whatever size that may be.
We begin with the Dow Industrials, which has been following a descending channel and has been hammering out a fairly steady series of lower lows and lower highs. We’re at about the midline currently.
In my last post a week ago I was talking about the prospects on SPX for testing the weekly middle band, currently at 4312, on this rally, with particular reference to the very historically bullish two first days of June, which were the last two days. Unfortunately for the bulls, these were both wasted in a sideways consolidation, so reaching that target now looks more doubtful, and the odds of a break down before that target is reached have increased.
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