AI
Thursday, February 06, 2014 6:51:40 PM
Thanks Smurf. Watching XLF :
I'd like good numbers of course, but its always more interesting to see how the market reacts to numbers. The fed said its going to taper by 10B and then they do and then the market seems to say "huh?" as if its surprised. So sentiment is always what i watch for.
In any case...Tomorrow one of the things that I'll be watching (and then the following few days) is the XLF. The Financial Spider.
If a rally back is going to occur, the XLF needs to show it. Here's a chart based upon a stockcharts.com newsletter/market message that they send out.
It shows that the XLF was nearing the November low. Now a support area. It's very oversold, MACD hasn't crossed yet, but is curling, and RSI bounced off of 30 (oversold) twice recently. It also did that in last August, when it rallied back.
If it breaks 21.1 ish on good volume that's a really good sign of a turnaround.
Just one of the things that i watch to help me learn.
I'd like good numbers of course, but its always more interesting to see how the market reacts to numbers. The fed said its going to taper by 10B and then they do and then the market seems to say "huh?" as if its surprised. So sentiment is always what i watch for.
In any case...Tomorrow one of the things that I'll be watching (and then the following few days) is the XLF. The Financial Spider.
If a rally back is going to occur, the XLF needs to show it. Here's a chart based upon a stockcharts.com newsletter/market message that they send out.
It shows that the XLF was nearing the November low. Now a support area. It's very oversold, MACD hasn't crossed yet, but is curling, and RSI bounced off of 30 (oversold) twice recently. It also did that in last August, when it rallied back.
If it breaks 21.1 ish on good volume that's a really good sign of a turnaround.
Just one of the things that i watch to help me learn.
These thoughts are just mine, not right, not wrong, just thoughts. Invest in what you believe in, not what I believe in. Do your research, and invest in the facts.
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