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Thursday, March 28, 2024 12:07:26 PM
When These Levels Break, The S&P 500 Is Going To Explode Higher
By: Julius de Kempenaer | March 28, 2024
• Consumer Discretionary Beating Staples
• Sectors Pushing Against Major Resistance Levels
Summary
The Relative Rotation Graph for US Sectors for this week mainly shows a continuation of the rotations as they were underway last week.
XLB : Moving from lagging into improving at a strong RRG-Heading, underscoring the building up of relative strength for this sector.
XLC : Stable inside the leading quadrant on a short tail.
XLE : Adding a long new segment to the tail, pushing it further into the improving quadrant at the highest JdK RS-Momentum reading in the universe.
XLF : Inside the weakening quadrant but at a very short tail, indicating a stable relative uptrend that is going through a pause.
XLI : Pushing into the leading quadrant now at a strong RRG-Heading while moving away from the center (benchmark) of the chart. This suggests an improvement in relative strength.
XLK : This week, the tail is accelerating at a negative RRG, heading toward the lagging quadrant, urging (more) caution in the tech sector.
XLP : Remains stable, just above 100 on the JdK RS-Momentum scale on the left side of the RRG. Relative strength slowly drifting lower.
XLRE : The raw RS-line dropped below horizontal support, which will likely ignite a new acceleration lower, pushing the XLRE tail deeper into the lagging quadrant.
XLU : The tail picked up some relative momentum this week but no relative strength yet. This suggests it is more of a temporary move. This makes sense, as XLU has the lowest RS-Ratio reading in the universe.
XLV : The tail is crossing back into the lagging quadrant from improving. With the raw RS-Line dropping below horizontal support, more relative weakness is expected, pushing XLRE further into lagging.
XLY : Starting to improve slowly while inside the lagging quadrant. Not at a positive RRG-Heading yet...
* * *
Read Full Story »»»
DiscoverGold
By: Julius de Kempenaer | March 28, 2024
• Consumer Discretionary Beating Staples
• Sectors Pushing Against Major Resistance Levels
Summary
The Relative Rotation Graph for US Sectors for this week mainly shows a continuation of the rotations as they were underway last week.
XLB : Moving from lagging into improving at a strong RRG-Heading, underscoring the building up of relative strength for this sector.
XLC : Stable inside the leading quadrant on a short tail.
XLE : Adding a long new segment to the tail, pushing it further into the improving quadrant at the highest JdK RS-Momentum reading in the universe.
XLF : Inside the weakening quadrant but at a very short tail, indicating a stable relative uptrend that is going through a pause.
XLI : Pushing into the leading quadrant now at a strong RRG-Heading while moving away from the center (benchmark) of the chart. This suggests an improvement in relative strength.
XLK : This week, the tail is accelerating at a negative RRG, heading toward the lagging quadrant, urging (more) caution in the tech sector.
XLP : Remains stable, just above 100 on the JdK RS-Momentum scale on the left side of the RRG. Relative strength slowly drifting lower.
XLRE : The raw RS-line dropped below horizontal support, which will likely ignite a new acceleration lower, pushing the XLRE tail deeper into the lagging quadrant.
XLU : The tail picked up some relative momentum this week but no relative strength yet. This suggests it is more of a temporary move. This makes sense, as XLU has the lowest RS-Ratio reading in the universe.
XLV : The tail is crossing back into the lagging quadrant from improving. With the raw RS-Line dropping below horizontal support, more relative weakness is expected, pushing XLRE further into lagging.
XLY : Starting to improve slowly while inside the lagging quadrant. Not at a positive RRG-Heading yet...
* * *
Read Full Story »»»
DiscoverGold
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Caveat emptor!
• DiscoverGold
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