perhaps you are aware, perhaps you are not … I spent 11 glorious years in the United States Navy flying F-14 Tomcats off the pointy end of an aircraft carrier. It was a great ride …because of that, I still consult from time to time for the Defense, Aerospace and IC sectors …keeping an eye on the Defense Industry is a passion and a something that I love to do ….
I say this because the patterns are an objective way to look at the market. even w/ all of the doom and gloom about sequestration, budget cuts, troop draw downs the defense sector has steadily gone UP. even the past couple years … I’ll be honest and tell you that, believe it or not, a lot of these companies have amazing diversity and do IT, CYBER, Health Care, high tech solutions, etc. Your Boeing, Lockheed, etc are AMAZING companies that have their fingers in EVERYTHING.
That being said … the SELL PATTERN is appearing. Objectively, the Defense Index is coming close to a major sell pattern. As I was doing work on this sector I was called away to cook some awesome steaks (thanks to my room mate who taught me how to absolutely nail cooking them …) when I came back to the charts I THOUGHT I WAS CHARTING GOOGLE. I was confused because I have a lot of work on that chart (GOOG) and there was NO WORK on the chart I was looking at…so, I overlaid GOOG on top of the DEFENSE INDEX and just sat back and said … I have to post this. Draw your own conclusion ….
