for those who follow this blog – remember – it’s all about PATTERNS and I try (operative word) to remove any subjective analysis from the mix. PATTERNS work and sometimes they don’t …
additionally, you’ll see here – https://bartscharts.com/2020/03/23/xlp-nya-ratio/ that the XLP/NYSE Index ratio has been a good guidepost for BIG inflections UP and DOWN for the equity market.
today, at the low on the ratio, we completed a BUY PATTERN. we do have a little lower for other targets to get hit but, essentially, we have a BUY PATTERN complete and, if it works (operative saying), THEN the selling should resume …
if it fails, which it certainly could, then this is a very bullish development and the rally will continue .. patterns like this, when they fail, are usually face rippers so time to hold on and see which way the market Gods would like to go …
Dear Mr.Bart
how are you?? thank you for doing BA for me and you said we don’t need to do anything and it bounced off from where you suggested. thanks again
if your time permits will you mind looking AT EXXON MOBIL AND CHEVRON IF YOU CAN
i realize you are busy but as always i trust your take on this technical stuff than anybody else and again, i do not understand this heavy stuff at my age of 73+
with many many thanks
vick