Technical analysis on the US stock market via SPY, QQQ & IWM as well as GLD, GDX, SMH, XSD, SOXX, XLF & XBI.
This video provides the outlook for various U.S. & non-U.S. indexes as well as numerous sectors & industries. Highlighted are some of the more bullish & bearish sectors at this time as well as well as a concerning development in which I've noted a recent & clear shift, most likely by institutions (i.e.- the 'smart [...]
Sector analysis gold & the precious metals mining stocks via GLD & GDX followed by analysis of the energy sector (XLE), Biotechs (XBI) & retail sector (XRT).
The most significant levels that I've been monitoring in recent months on the biotech sector is this large symmetrical triangle pattern (yellow). Today's rally has taken XBI within 1% of the top of the triangle which is likely to either act as resistance when hit, sending prices lower, or a breakout followed by a rally, [...]
So far today, XBI reversed immediately after tagging the primary downtrend line (top of symmetrical triangle pattern which is resistance) & has since formed a doji candlestick on the daily time-frame. XBI daily Jan 9tth Zooming down to the 60-minute time-frame, XBI has now hit the measured target for the bullish falling wedge [...]
XBI (Biotech ETF) has already rallied back to the top of the wedge in just one trading session since tagging the bottom of the pattern yesterday. Although this prices could pop above the pattern any day now, keep in mind that any breakouts over the next week or two run an increased rate of failing [...]
XBI (Biotech ETF) is approaching key support (gap + 58.52ish price support) with potential bullish divergences forming on the 60-minute time frame. As such, a reaction & possible trend reversal within the next 1% or so is quite likely. XBI 60-minute Dec 22nd Potential divergence means that the PPO (and the MACD) as [...]