Sectors & Charting

Okay, so I've felt confident with sectors for a while now. Today I thought the news noise would have an impact on the market, but it turned out to be just that – noise. As a result, the sectors I called out to perform positively: XLY, XLK, and XLI did just that. Let's take a quick look:

As shown above, XLK and XLY did lead the market today and XLI came in 4th place. Overall, this gives me confidence in selecting individual stocks. Before I do that, let's look at today's analysis:

So tomorrow, I'll expect XLF to reverse due to the heavy selling volume. XLK while dominated by buyers still has relatively low volume, which is a bit uncommon so I'll expect it to continue performing green.

I'll focus on XLK and I can already tell that there will be a green day for it. Let's look at AMAT charting:

Rising wedge, bound to explode in the morning and it already is overnight. I'll track the morning 5 minute chart and see after the 30 mins. Amazing prospect for an intraday trade, though I already know the premium will be insane.

I do feel a bit late for this party, so I may need to pivot in the morning based on. charts.