XLP / NYA update – heads up and pay attention
see chart below and let me know if you have any questions .. some things to think about. VERY NICE POP since this post …
let’s not get cocky … trade what you see.
so based on the above – certainly could put this into the potential’s out there. just saying …
note the $NYA chart below ….
- blue arrows represent the largest corrective move since 2009
- in the 2007-2008 financial panic this measured move held the market at bay for almost two months
- can you imagine the talking head pundits on CNBC BS’ing about that for two months … blah blah blah.
- we also see the dashed black arrows projection to the exact level as the measured move
- we have weekly bullish divergence present on the RSI
- plus, we are a couple ticks shy of the XLP / NYA ratio in an arena of overbought more than 2009.
so, if were going up … sure looks like it’s about time for that to happen.
here we go …