Post Day Off

I took a break today. Nothing last night seemed to catch my eye.

Looking at the results from today's performance, I'm thinking the following will end up in green tomorrow: XLRE, XLB, XLI, XLC. Let's look at today's performance overall.

From the above, we see that XLRE had an even distribution volume between sellers and buyers. Typically when this happens it goes either way. XLB, which I'm most convinced for ended up being overpowered by the sellers while ending up green. Typically this is quiet investors retaining their positions. Lastly, XLI is even distribution while ending in green and XLC is overpowered by sellers so needs recalibration. I've chosen XLB over XLC due to the green closeout, if the volume was higher for XLC, then I'd be more convinced for it. My model has predicted XLRE and XLB, but XLRE does not convince my eyes.

From XLB, I'm looking at SHW and LIN. Let's look at SHW:

Evidently, SHW has been in a down trend for three days now, which is now bound to break and have a reversal. While it may be a slow rise up, we can see that it will start breaking out. Now, I don't enjoy holding contracts most days, but if it's promising tomorrow, then I might, depending on the contract prices. I'd probably aim for a $325 price target limit.

Now, LIN is a bit more complex as the downtrend is a lot sharper.

Above we see the fast drop in price for LIN, we also see that in almost a month, we haven't seen the RSI go past a 50 mark which is a bit concerning and makes LIN sound like a dying asset. It differs from SHW for sure as SHW has had trends where it recovers quickly. I'll be monitoring SHW as a result as it also does provide me with more conviction.

Moving On

Something that I've been thinking about is that I've been opening and closing contracts without a goal, which then does not help my discipline at all. It feels like rowing a boat just to row without aiming for a shore. So, I will be aiming to have a $250 earned bank roll by the end of this week. This is my minimum, but it can always go higher and surpass my own goal, which can be easy (not to sound cocky). Let's monitor SHW and aim for a spectacular entrance!