Repositioning

I didn't trade yesterday because I took a massive loss on Tuesday. It was a weird one, the analysis from the day prior was good, the prediction was there, and the stocks I mentioned that would gap up at the opening did, but at the time to take my trade, they plummeted.

Let's look at how HOOD performed:

As shown above, we see that it gapped up in the morning time by almost $8 it then dropped and reached a low of $86 and settled on the $88 range. Today, we saw it reach $93 which would've been amazing if I stuck it out.

So, I took a whole break from picking any trades, so let's see what tomorrow holds. Looking at the below, we see two patterns:

1. Return wise, XLK took the lead today, but the volume wasn't as high.
2. XLE and XLU seem to have higher trading volume, but in favor of the sellers. As shown below, these two sectors are almost obliterated by the sellers, which means tomorrow there has to be reconciliation from investors, and have the opposite of today.

With the above information, we can say that XLU, XLE, and possibly XLF may remain at the top. Let's monitor XLU and XLF tomorrow as I don't particularly enjoy trading within XLE.

Let's see what friday brings to us