Below are five ETFs related to specific sectors which I found interesting.
First up is our old friend IYR, which is the real estate fund. I spilled much digital ink about how much I regretted dumping my puts on this around August 4, only to see them go up about seven-fold. This has surged recently (like everything else), and Friday I re-entered this position, determined to hold firm this time. Perhaps I’ll get a second bite at this apple. Take note how big the top is.
![](https://slopeofhope.com/wp-content/uploads/2022/11/slopechart_IYR-640x330.jpg)
I think of RNeo when I see this chart, because he’s quite fixated on the $SOX (semiconductor index) these days. We perfectly tagged the downtrend on Friday. Unless this thing goes ripping higher on Monday, I think an immediate reversal could be at hand here, considering the amount of overhead supply.
![](https://slopeofhope.com/wp-content/uploads/2022/11/slopechart_SMH-1-640x330.jpg)
Bonds have been in one of the worst bear markets in financial history for years at this point. I haven’t traded this stuff in a long time, but looking at this chart, I think any ascent from TLT will be just gasping for air, since the fundamental reasons for the demise of bonds are so large.
![](https://slopeofhope.com/wp-content/uploads/2022/11/slopechart_TLT-640x330.jpg)
This idea is accentuated by what’s going on with the banks, which have been range-bound for many months and are once again at the top of their range and beneath (once again) a large area of overhead supply. In short, we’re back to exactly where we were at the peak of August 16th.
![](https://slopeofhope.com/wp-content/uploads/2022/11/slopechart_XLF-640x330.jpg)
Finally, the Consumer Staples have respected their price gap (to which that horizontal line is anchored), which could make for a pretty clean trade.
![](https://slopeofhope.com/wp-content/uploads/2022/11/slopechart_XLP-640x330.jpg)