I’m a believer in Utilities (by way of XLU) on the short side.
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.
Real Estate Resistance
Please note the position of the ETF symbol IYR (real estate sector) is relationship to its major Fibonacci retracement level. This seems like it would be an ideal medium-term peak.
Utilities, Okay!
I remain quite cautious in this so-called market of ours. One of the few items I fairly well trust is the utilities fund symbol XLU, whose diamond topping pattern is quite well-formed. I am steadfastly ONLY getting January 2024 puts now for any position, even for ETFs, because I want to give myself an insanely long runway.
Hope By Way of ETFs
In the same manner as I did with the prior post about indexes, I wanted to offer some reflections on what I think recent ETF action might mean for markets in general. Below are seven major ETFs, in alphabetical order of their symbols.
The first, based on the Dow Industrials, has had an interesting failed bullish breakout. A few weeks ago, it looked like the Dow was going to finally smother the bears to death, once and for all. What has happened instead is that, twice, the bulls have tried to launch this thing, and it failed spectacularly on Thursday and Friday. In spite of all the trillions of dollars that pig Yellen has provided, the bulls have apparently run out of gas.
Tech vs. Small Caps
If you look very, very closely, you can see a modest divergence between IWM and XLK.
