Saturday, December 02, 2006 7:39:20 PM
Sector iShare & Big cap: The recent AAPL upgrade is certainly to boost the general market action as well as upgrading MSFT a week ago.
While GOOG is retrieved from $500 resistance, 60m intra shows Positive D. at 200ma S.
ORCL positive D at major support on 60m.
AMGN underperformed because of $BKX after election, but it is also closed at a support.
QCOM formed symmetrical triangle on daily after the recent sharp retracement; hence need to confirm.
In conclusion, intraday shows positive D. even though major market momentum is decreasing with negative D; so, again we need confirmation.
This is my iShare sector comment. Best Wishes
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http://www.trend-signals.com/Comments/Sectors/SiShare061201.htm
Since mid Jun, the best performing sector was energy sector, 7.17% while the worst one was Industrial, -6.23%. The other sectors' performance were Utility 3.96%, Material 3.36%, Technology 3.8%, Consumer Discretionary 2.14%, Financial -.06%, and Consumer Staples -4.96%. These iShare performances are not necessarily in sync with corresponding industries or sectors. For example, while Oil ($WTIC) has traded down during the last few months, Energy iShare is traded up. Chart:$WTIC wkly XLE
XLB, material, is showing strong momentum since Jun 06 bottom as it broke above the Jul-Sep top resistance in Oct. It is now showing negative divergence on daily and weekly with slowing momentum as the same with the general market direction.
XLE, energy, is showing strong momentum to upside as those broke above the Jul/Aug 06 high with negative divergences both on daily and weekly.
XLF, financial, is trading in a relatively defined range during the last two months as with XLP for three months. XLF is closed at the two months support TL, hence, need to watch the support TL at 50ma. The XLP, consumer staples, formation is symmetrical triangle; hence, hence, we will soon see a break to either side from 25-26 trading range.
XLV, health care, broke TL support and now it is closed at the TL resistance. Trading above the current TL resistance favors retracing to the top, however, as we can see on weekly, it is overbought hence, prudent to take profit.
XLY, consumer discretionary, has performed very well during the recent rally, and now, it is consolidating at the top while weekly momentum is declining. During the last 30 trading days, AMZN 21%, COH 20.87%, KBH 19.44% were the best performing stocks; even though AMZN is recently pulled back closing at the recent breakout support.
In conclusion, SP500 iShare is relatively following general market direction based on my observation of the last five months performance, i.e. All buying signals during Jun-Jul bottoming process; hence, need to be aware of major market direction and to keep in mind that XLY formed sym triangle which will break out soon.
While GOOG is retrieved from $500 resistance, 60m intra shows Positive D. at 200ma S.
ORCL positive D at major support on 60m.
AMGN underperformed because of $BKX after election, but it is also closed at a support.
QCOM formed symmetrical triangle on daily after the recent sharp retracement; hence need to confirm.
In conclusion, intraday shows positive D. even though major market momentum is decreasing with negative D; so, again we need confirmation.
This is my iShare sector comment. Best Wishes
~~~~
http://www.trend-signals.com/Comments/Sectors/SiShare061201.htm
Since mid Jun, the best performing sector was energy sector, 7.17% while the worst one was Industrial, -6.23%. The other sectors' performance were Utility 3.96%, Material 3.36%, Technology 3.8%, Consumer Discretionary 2.14%, Financial -.06%, and Consumer Staples -4.96%. These iShare performances are not necessarily in sync with corresponding industries or sectors. For example, while Oil ($WTIC) has traded down during the last few months, Energy iShare is traded up. Chart:$WTIC wkly XLE
XLB, material, is showing strong momentum since Jun 06 bottom as it broke above the Jul-Sep top resistance in Oct. It is now showing negative divergence on daily and weekly with slowing momentum as the same with the general market direction.
XLE, energy, is showing strong momentum to upside as those broke above the Jul/Aug 06 high with negative divergences both on daily and weekly.
XLF, financial, is trading in a relatively defined range during the last two months as with XLP for three months. XLF is closed at the two months support TL, hence, need to watch the support TL at 50ma. The XLP, consumer staples, formation is symmetrical triangle; hence, hence, we will soon see a break to either side from 25-26 trading range.
XLV, health care, broke TL support and now it is closed at the TL resistance. Trading above the current TL resistance favors retracing to the top, however, as we can see on weekly, it is overbought hence, prudent to take profit.
XLY, consumer discretionary, has performed very well during the recent rally, and now, it is consolidating at the top while weekly momentum is declining. During the last 30 trading days, AMZN 21%, COH 20.87%, KBH 19.44% were the best performing stocks; even though AMZN is recently pulled back closing at the recent breakout support.
In conclusion, SP500 iShare is relatively following general market direction based on my observation of the last five months performance, i.e. All buying signals during Jun-Jul bottoming process; hence, need to be aware of major market direction and to keep in mind that XLY formed sym triangle which will break out soon.
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