Trend Charts: NYSE, XLE, XLF, SPY, QQQ, BABA& GOOG
Hello everyone! Today I want to share some technical analysis with you! Hope it can help you!
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$Alphabet(GOOG)$ has been finding support off the 2021 highs over the last several weeks.
If today's earnings are solid, this thing is off to the races.
~EPS ESTIMATE: $1.50
~SALES ESTIMATE: $78.70B
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$Alibaba(BABA)$ Is Alibaba FINALLY about to make its move? 🤔
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$Invesco QQQ(QQQ)$ Remember last week’s big puke on tech stocks? 🤮
Looking at the percentage of technology stocks above their 50-day SMA, we can see that once the 200 SMA started to act as resistance for this symbol, there was a massive liquidation in the Nasdaq.
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$SPDR S&P 500 ETF Trust(SPY)$ Use market breadth symbols for added confluence in your strategy:
This SPY swing strategy enters long when price closes above the 200 SMA and at least 55% of stocks in the S&P 500 close at 14-day lows. Exits +15% or -7.5%
✅ 50% total return & 57% win rate over last six years
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Since October 2022, every time the percentage of stocks in the Financial sector above their 50 SMA fell below 20%, it has been a reliable risk-on signal. $Financial Select Sector SPDR Fund(XLF)$ Set real-time alerts on this for next time. ⏰
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$Energy Select Sector SPDR Fund(XLE)$ Almost every time 14-day highs on energy stocks hit this 3-4% level, XLE goes risk-on. Last week we touched it and have already seen a nice bounce ⚡
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$NYSE(NYSE)$ Percentage of stocks above their 200 SMA in the NYSE put in a double top right around 70% but has since bounced off the neckline.
If breadth can smash those highs, it might be a good risk-on signal for equities. 📈
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