Before I sign off I wanted to show you a chart I stumbled upon in today's am/FX by @donnelly_brent (you miss a lot if you do not follow/subscribe)
In this market more than ever, one has to be open minded.
Daily observations below after which go read the rest of his piece 👇
In this market more than ever, one has to be open minded.
Daily observations below after which go read the rest of his piece 👇
@donnelly_brent Under the radar📡:
1. Relative strength: megas, $XHB, $XME
#relativestrength
2. Relative weakness: $XLP, $SMH, $HG_F
#relativeweaknes
1. Relative strength: megas, $XHB, $XME
#relativestrength
2. Relative weakness: $XLP, $SMH, $HG_F
#relativeweaknes
@donnelly_brent Relative strength notes 🟢:
1. $XHB - loved the long-end rates move
2. $XME - new high close for the year
3. megas finally up from oversold levels - $AAPL, $AMZN, $GOOG, $META
1. $XHB - loved the long-end rates move
2. $XME - new high close for the year
3. megas finally up from oversold levels - $AAPL, $AMZN, $GOOG, $META
@donnelly_brent Relative weakness notes 🔴:
1. $XLP - slow cuz yesterday was a bit too hot
2. $SMH - was very slow to start the day
3. $HG_F taking a rest too right at the sma50d
1. $XLP - slow cuz yesterday was a bit too hot
2. $SMH - was very slow to start the day
3. $HG_F taking a rest too right at the sma50d
@donnelly_brent Other observations:
1. $SPY - this is what charm and vanna flows look like; and short covering
2. DXY & rates backed off on no news (just continued after ISM)
3. $CL_F gap down faded heavily, now at sma100d. This time it breaks?
4. crypto not feeling well
1. $SPY - this is what charm and vanna flows look like; and short covering
2. DXY & rates backed off on no news (just continued after ISM)
3. $CL_F gap down faded heavily, now at sma100d. This time it breaks?
4. crypto not feeling well
• • •
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