6 Days Off

Haven't written in 6 days, and didn't trade last week. It was a short week, I wasn't fully present, therefore there wasn't much for me to write about. I didn't make any trades uninformed.

Let's prep for tomorrow with caution after the long weekend.

If we look at Friday's performance plus the 5 day indexes performance, we can see that the industrial index has had the greatest growth in five days. However, if we zoom in, we see that on Friday, we have all the sectors except for XLC ending on a positive daily change from the previous day.

As mentioned in previous posts, the greatest contributor to SPY or SPX is the technology sector, and in the above charts, we see that it ended up second best performer on Friday. We see that the last 3 days of the market have contributed greatly to the SPY growth, where XLK has outpaced SPY.

SPY is in great momentum, overnight prices are already above and surging, which means that the price will continue to drive up before the sellers step in. I'll monitor SPY tomorrow during the day.

Lastly, since XLK has been in the lead next to healthcare, I'll look at one option for XLK, in this case AMAT.

When we look at the above performance, we see that XLK has outpace AMAT. However, it fits my model after re testing the initial support and resistance. At the same time, we see that XLK and AMAT have both performed positively, even when XLK has outpaced AMAT.

Tomorrow will be a slow day for me for the most part, if I'm not convinced I'm not trading and will only be witnessing. SPY and AMAT are the only two cards in my hands tomorrow. Let's see what tomorrow awaits.