Today’s Chart of the Day was shared in a research note by Frank Capelleri of Instinet (@FrankCappelleri). It’s a daily bar chart of the iShares Software ETF, $IGV. In the note, Frank explains that Technology is a heavily weighted component in all the major indices and says “the major indices will live or die by its […]
Chart of the Day – Tuesday, July 23rd, 2019
Today’s Chart of the Day was shared on Twitter by Dan Russo of Chaikin Analytics (@DanRusso_CMT). It’s a line chart of the SPDR Technology sector ETF, $XLK breaking out to new all-time highs. Dan notes that recent strength from Semiconductor stocks has been helping push Technology higher. In fact, the Semiconductor ETF, $SMH closed at a […]
An Unusual Environment
Yesterday, Chris Verrone of Strategas appeared on Real Vision to give us his take on the current environment in markets. He believes that the Fed is the root cause for the rallies we have seen in equities, bonds, and even Gold. So, why are all three of these asset classes trading in sync? Chris notes […]
Is this the Top for Tech?
Two renowned Technicians made television appearances last week and warned about the bearish signals they were observing in the Technology Sector. After just a few trading days they’ve been proven right as the Technology SPDR ETF, $XLK is down almost 4% in the past three sessions. This call is no longer immediately actionable due to […]
Real Leadership: Relative Strength vs New Highs
On Monday, Instinet’s Frank Cappelleri posed the following question in his morning note: “So, what are the true leaders? The areas that are UP the most from the lows? Or the ones that are the first to make NEW HIGHS?” I thought this was a great point as we have a dichotomy in the market right […]
