In this current market, staying nimble with shorter term expectations for follow-through and accepting the choppy, unpredictable markets is key. Also focus on the markets and sectors that have proved to be resilient; that is where we find certainty…
While the S&P is coming off a double top, if the sell-off is to continue, the leaders to the downside will have to continue… as will the concern of potential impeachment proceedings.
Looking at the S&P, Dow, NASDAQ, and IYT for leaders to the downside, crude oil API data, and what the levels in bonds, gold, and the US dollar are.
I like the defense sector, as it’s continuing to show great relative strength. Let’s look at the ETF as well as a couple of my favorite names in the industry group.
The indexes ran out of momentum at the highs, and quickly pulled back to the mean. The question here is if this level of support will break, or not. We don’t have the answer to that yet, but here are the tickers and levels I’m watching. Let’s look at GLD, TLT, XLP, KO, PEP, COST, and more.
