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S&P 500 Consumer DiscretionaryS&P 500 Consumer DiscretionaryS&P 500 Consumer Discretionary

S&P 500 Consumer Discretionary

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S5COND trade ideas

SPY (S5COND): Descending channel, consumer discretionaryHi all, For this one, no price target. Just an evaluation of the status of the market. Consumer Discretionary (S5COND) chart shows the industries that have a tendency to trend lower in a bearish market. It encompasses industries that produce durable goods like cars but also leisure items such as Netflix and others. The fact that the chart has been (and is still) trending down demonstrates that money is not spent as much as it used to on leisure items. The general population is making better use of their finance such as mortgage and debt repayment. With high interest rates and inflation, it all makes sense. The current trend is quite clear with no end in sight. The market structure is bearish. In order for this to change, the price action will have to move above the top trend line of the channel. This is not going to happen short term but keeping an eye on this chart may help you see when the market will turn back unto a bullish one. Stay humble, Have fun, Make money.
SP:S5CONDShort
by LeLaf
2
SOXS: Ascending Triangle (+74%)Thanks to my friend @superiorJaguar24882, I'm thinking about getting into SOXS in the near future. (Left Graph) SOXS (3X Bear ETF, Semiconductors) is currently in an ascending triangle, not confirmed, with possible gains up to 74%. This is supported by the current inflation rate, gas price and overall bad news. Our fun money is just not as available as it used to be. (Top right graph) S&P consumer Discretionary index is currently in a descending channel with no end in sight. You can also see the dreaded Death cross circled in blue, prelude to a long bear market. Bottom right if the S&P Information technology index. Currently showing a big head'n shoulder (not confirmed) that could, if confirmed lead to a negative 21% in value. So basically, the techs will not have the upper hand from now on. Buyers will put food on the table first. Fun money will come in second or even less. It may just be the right time to bet against the Semiconductor market. As always, stay humble, have fun, make money.
SP:S5CONDLong
by LeLaf
2
F: Bullish Flag (39%) ascending triangle (37%)Ford Motor company is currently building into a bullish flag on the daily with possible price target of 28.50$. It is not confirmed yet and may run into some difficulties for the two following reasons: 1- The weekly chart is showing a resistance level at 22$. This is the price target level of the fully filled ascending triangle. Once fully filled, price may reverse. 2- Ford is part of the Consumer Discretionary sector. This sector is also at the price target (1700$) of fully filled ascending triangle. This new price target could act as the new resistance and reverse the trend. If the 22$ resistance is broken on the Ford graph, and the 1700$ resistance is broken on the sector chart, this could help fill the daily price target. Support through Patreon. Stay Humble, have fun, make money!
SP:S5CONDLong
by LeLaf