XLF Weekly hit the high week of May 8th and now appears to be rolling over with renewed belief in negative news. Point E Aversion target is 9.50 or below around July 24th.
IYR Weekly. Recent high Point D was reached June 6 and if this is deteriorating we have a target of 25-ish near July 24th.
the curious thing is "maybe they are passed DD"
ReplyDeleteand if they are ahead of the cycle...
Maybe they double bottom....
I'm doubting that with the XLF...
but it will be curious to watch sectors that are ahead of the index on the sentiment cycle.
That's diabolical. XLF below 7 again would put Larry in the ICU.
ReplyDeleteI'll throw out one more possibility: the IYR is forming a bull flag here... I don't believe it, but it is a contingency.
I just can't see 7 on the xlf...
ReplyDeleteIt would be interesting to see a new panic out of Real estate... and maybe this sell off will be based on that MEME...
I'm kind of worried about a flag in the SPY... with the low volume break out of the trend...
and Maybe.... but...
Lower high...