The overal market is weakening and approaching a riskwise interresting level to participate in a potential leg down
with:
->the sp500 approaching the supplyline of a pot. downchannel
->xly approaching its resistance
->xlp on a break of the demandline , retesing the broken resistance
->xle trading at its supplyline
->xlf forming a pot. lower high
->xlv struggeling gaining new grounds to the upside
->xlk trading near its resistance
->xlu trading near its resistance
riskwise shorting the sectors close to its resistance like XLU, XLK
and the sectors at their supplylines like XLE would be the best bet...
especially XLE which is the weakest sector of them all , would be a good candidate to participate in a short play
with:
->the sp500 approaching the supplyline of a pot. downchannel
->xly approaching its resistance
->xlp on a break of the demandline , retesing the broken resistance
->xle trading at its supplyline
->xlf forming a pot. lower high
->xlv struggeling gaining new grounds to the upside
->xlk trading near its resistance
->xlu trading near its resistance
riskwise shorting the sectors close to its resistance like XLU, XLK
and the sectors at their supplylines like XLE would be the best bet...
especially XLE which is the weakest sector of them all , would be a good candidate to participate in a short play