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 money') into defensive sectors at the time the broad market is trading near all-time highs. My take on those recent developments are discussed in the second half of the video.
I'm seeing a mixed bag of bullish and bearish charts when viewing the broad markets and key sectors from a longer-term perspective. For now, my longer-term bias remains bearish but I did want to point out some of the recent bullish technical developments as well as some of more bearish charts as well. I put together this video overview completely unscripted (pre-planned) just cycling thru the various key indexes and sectors from one of my watch-lists and in doing so, the video turned out quite a bit longer than usual. Here's the list, in order as covered, of the charts discussed [...]
PGJ short set-up posted on tuesday broke down below the rising wedge pattern on the 60 min chart shortly after and is now re-testing the lower trendline while also at a decent horizontal support level. see notes on the updated daily and 60 min charts below for an objective stop area on the trade if you took it or plan to enter this week. although i still think PGJ is an objective short here, i will point out that i see a possible inverse head and shoulders pattern in the related FXI etf that, if valid, has completed formation and sits [...]
PGJ, as well as the $SSEC index, at resistance. one could short here or wait for the 60 min chart rising wedge breakdown to confirm an entry. 60 min and 2-day period chart below.