I posted a number of negative signals coming from forex, crude oil and then specific sectors in the US market i.e. Utilities and Energy, the last few days.. I see a confluence. Today I share a chart of the Straits Times Index for Singaporean readers.
Over a 1-day and 5-day period, Utilities was the best performing sector. This could be nothing or could be a bearish signal since investors tend to go into utilities when they become averse to risk.
4 charts that says something is brewing. If the signals are true, XLE is a leading indicator which we will see some WTI, index moves in the near future.
Pointing out some observations of AUDUSD, AUDCAD and AUDJPY, price reaction to significant levels. Additionally note AUDJPY can be a prediction for Asian stock indices.
I look at concept of relative strength between currencies over a duration and how traders can overlay forex pairs to pick the winning trade. This is an example that supplements what I have written about this topic 4 weeks ago.
Year to date performance of US S&P 500 going strong with sector breakdowns a field of green except ‘Energy’. This post covers ‘how to use a heatmap for your sector/stock picking’.
6-minute trading video by Jeffrey Kennedy at Trader’s Classroom, Elliott Wave International describing how to identify, use historical horizontal supports and resistance levels/zones. Example with Bank of America (BAC) chart.