SPX Weekly Chart
SPX Daily Chart

Despite closing red on the week, SPX continues to pull away from the 200 day moving average. The weekly chart put in an “inside” candle [more info on the inside day pattern here] this week, indicating potential continuation. Basing around all-time highs, the daily chart is coming out of a W bottom formation and is currently holding above the breakout level. This is definitely not bearish.

IBUY Daily Chart
Price Relative: IBUY vs SPY
  • IBUY has been on fire since COVID and is now looking for new all-time highs.
  • Internet retail continues to outperform SPY on a relative basis.

[get my price relative chart on TradingView]

XLB Daily Chart With Price Relative Below
  • XLB materials coiling on the daily chart
  • Trading %10+ above pre-covid highs
  • Outperforming SPY on a relative basis since COVID lows

XLC Daily Chart
  • XLC communications is trading +10% above pre-covid highs
  • Pulled back and is now rebounding near all-time highs

XLY Daily Chart
  • XLY consumer discretionary trading +15% above pre-covid highs
  • “W” bottom pattern on the daily chart with higher lows
  • Nearing all-time highs

XSD Daily Chart
  • XSD semiconductors trading +30% above pre-covid highs
  • Testing all-time highs in a strong uptrend
  • Steadily outperforming SPY since Jan 2019


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