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XLK

ROTATION FROM 'GROWTH' TO 'DEFENSIVE' OVER LAST 10 DAYSCHART DISPLAYS LAST 30 DAYS Utilities ($XLU) outperforming the broader market as represented by ($SPY) and growth oriented, tech based, sub-sector ($XLK) over the last 30 days. This has a correlation with an increased 'potential' for instances of heightened, near term (2 to 4 weeks) market volatility. During the recent selloff we can see that the 'bids' did not push the broader market as represented by ($SPY) or the S&P 500 tech sector ($XLK) back over its pre-selloff top. On the other hand, the market did buy the utilities (XLU) back up over its respective, pre-selloff top. (see yellow horizontal lines) So utilities stay bid while tech and the broader market begin to falter. In my opinion this is what a rotation out of 'growth' ($XLK) from the last 6 weeks and into 'defensives'($XLU) looks like from a price structure perspective. I would interpret this as an expression of 'risk off' market sentiment going into 2023. (NOT FINANCIAL ADVICE)
AMEX:XLK
by Firewalker_Charts
Portfolio Selected Visuals (PSV) vol IThis is a list of my personal portfolio selected ETFs with the simplest visuals, using MACD as the only technical indicator and the trend lines with breaks or breakdowns to give us a new series of PSV charts. ;-) Note that these are using Weekly charts, and a break out is qualified when there is a trendline break out accompanied by a MACD crossover (within a week or two). From left to right... GDX (Gold Miners ETF) qualified a break out on 31 Oct, after a higher low, but sees to have met resistance (red ellipse) ILF (LatAm ETF) is still within a trapped range. XLK (Technology ETF) qualified a break out on 14 Nov, after a higher low, but seems to have met resistance (red ellipse) soon after. GXC (China ETF) qualified a break out on 28 Nov, after a higher low. Appears to have another break out above a resistance line. XLE (Energy ETF) qualified a break out on 17 Oct, after a higher low, but seems to have broke down of support/resistance (red ellipse). INDY (India ETF) qualified a break out on 31 Oct, after a higher low, but seems to have met resistance (red ellipse). XME (Metal Mining ETF) qualified a break out on 24 Oct, after a higher low, but seems to have met resistance (red ellipse). EWS (Singapore ETF) qualified a break out on 14 Nov, without a higher low, and further qualified a better stronger break out pattern on 28 Nov. From this set of visuals, GXC and EWS are the front runners. GDX appears a close third.
AMEX:GXCLong
by Auguraltrader
NVDA Potential - but....NVDA showing the makings of a Cup & Handle Breakout. It has retraced 78% from high, and has attempted to clear the 78% fib line. However, it is riding the upper band of the Bollinger, which is widening and signalling a consolidation. There is considerable resistance above which might lead to a false breakout and breakdown. I would consider a long swing position only if it takes out its most recent high (black horizontal line) and consolidates the handle tightly.
NASDAQ:NVDA
by UnknownUnicorn13101
Anatomy of a NASDAQ interim topAn interesting set of events just occurred in the NASDAQ futures. In early November, the NASDAQ (and most market indices) spiked in a bullish rally, only to find a resistance at about 12,000 in mid-November. It then retraced to test the support at 11,560. While it bounced off the support then, there was a momentary spike down to 11,528. This is the significant low for this consolidation range at the top of the short term rally. The bounce brought it to 11830, where a resistance level was failed. This was then followed by a revisit to the consolidation range support (bottom of yellow box). About an hour ago, a lower low was triggered (red support line) and currently the NASDAQ futures is struggling to keep above the consolidation zone support. Technical indicators MACD and VolDiv are slightly bearish, boding a more likely breakdown. MACD crossed under, and remains under the zeroline. VolDiv is not uptrending, but below its SMA, and looking for a breakdown below zero line. Also noted is the green "BD" where it denotes a Break Down of an auto-plotted trendline support. The price action is a little long to the downside, and has been support hugging. It is likely to have some sort of a rebound, but what happens next depends on whether there is more juice to sustain. A technical rebound is due and appears to be forming up at time of writing. Definitely, is there enough juice to get this to the upper part of the range? The other thing here is that a decisive breakdown out of the consolidation range is needed and appears to be lining up for the later part of the week. This is invalidated IF a technical rally closes above 11850. Wait for it...
CME_MINI:NQ1!
by Auguraltrader
bearish rounding top on Tesla forming , short setupcurrently in a 4th way up , however there is a bear flag forming I see. Tesla needs to get over $215, to possibly invalidate the bearish sentiment. Even still, it would also have to breakout above trendline resistances near 220-225. That might be a difficult task. There is also B leg of the previous cypher pattern, that will act as a resistances for wave 5. I'm looking for a short entry above $215.00, if price action fails to get above this level. I'm looking for a quick breakdown below $200... Monitoring for short set up
NASDAQ:TSLAShort
by moneyflow_trader
Tech will continue to rise and build baselooking for $xlk index to continue bullish momentum into next week and at least hit B leg. Notice the rising bear flag into the previous highs. I would like to be out before the apex complex and give way to another direction or even if a continuation direction. Price action expected to move to $140 area. There is a base building, and likely will need a handle to support. At that time, possible bearish position will be created. Not trading or investment advice. Just for my education, learning, and trading experience.
AMEX:XLK
by moneyflow_trader
NASDAQ - a bear rally turn to downside target updateJust a quick note that the recent NASDAQ (bear) rally appears to have run its course; on the 1H chart, it had a series of Lower Highs and Lower Lows (white lines), and appears to have completed the trend change pattern by breaching the support from the first Lower Low (red line). Given this pattern completion, a typical breakdown of the critical support would see a fall out to the next significant support level. Two of which are close to each other, and about 10,600. The MACD is supporting this view with the MACD crossing under the Signal line, and both crossing down into bearish territory below zero. In alignment, the Volume Divergence has similar cross down / cross under as well. The described breakdown happening in the Asian market hours might see a struggle to keep at the support level area and a probable dive later today at the pre-market opening or early market open hours. Having complete the pattern to the projected target present yet another breakdown which might see an overextension (perhaps early next week) to below 10,000 on the NASDAQ, as earlier expected to meet the downside projected target. An early warning to brace well as we go into the weekend and roll over to next week…
CME_MINI:NQ1!Short
by Auguraltrader
NASDAQ has more downsideThe NASDAQ futures are ominous... for more downside movement, given that the first projected downside target has been hit, and exceeded. The NASDAQ weekly chart is bearish looking, with technical indicators supporting that view. Still aiming for <10K (9600). The daily chart has slightly better technicals on the MACD, but it is probably an artefact of the Thursday surge. Nonetheless, the Friday wash out bearish candle left no prisoners with closing at the YTD low. Bearish momentum is clear and present.
CME_MINI:NQ1!Short
by Auguraltrader
Is #Bitcoin a leading asset?JC Parets is one of the few experts I follow closely. He's been saying that "cryptos are just riskier tech stocks" and I agree. Just look how NASDAQ:IXIC , AMEX:XLK and INDEX:BTCUSD have bevahed for the las 5 years. They are highly correlated, all have bottomed almost in tandem 3 times. But if you look in daily charts you'll see that Bitcoin actually bottoms a little bit earlier. Now look at the tops. See how while the Nasdaq and the Tech ETF keeps going up while BTC diverges. As a riskier asset BTC is sold earlier than stocks, but also is buyed earlier than stocks. At least that is what I see here. Bitcoin and Ethereum haven't made new lows while SP:SPX , NASDAQ:IXIC and DJ:DJA have. As JC Parets recently said, "Is Bitcoin finally going to decouple here, or is this just a temporary bout spurred on by unique conditions?" Lets see what happens.
BITSTAMP:BTCUSD
by dpuleo19
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