SPDR Select Sector Fund looking great for upside to $120Perfect Cup and Handle has formed with XLE.
We just need to wait for the crucial breakout and close above the brim level.
With moving averages, all is looking great with 7>21>200 - Green - Bullish
RSI - Buy divergence >50 - Bullish
Target 1 $120.00
GENERAL INFO:
The SPDR Select Sector Fund is a series of exchange-traded funds (ETFs) that are managed by State Street Global Advisors.
It is designed to track the performance of specific sectors of the S&P 500 index. There are 22 different funds covering sectors like Energy, Financials, Health Care, and Technology.
This is available as it's a cost-efficient way for investors to gain exposure to specific sectors of the market, without buying individual stocks.
This fund also gives an indication on the sentiment in general markets. Which looking at this analysis it's bullish and we can expect the markets to continue up in February. Fantastic!
