Friday, February 9, 2024

$HSI - Hong Kong Bear Market Update

The Hang Seng has lost about 50% since the bear market call made in 2021. Once China took over control of Hong Kong any advantages of that capitalist system ceased to exist. The bear market should make a lower low soon with bounce to follow. Monthly

Thursday, February 1, 2024

XBI - Biotech Bear Flag

XBI has developed a bear flag and this is potentially quite a bearish development in the chart. It is starting to see some weakness and may see a deeper selloff soon. Daily

Friday, December 22, 2023

LABU - Biotech Recovery Rally!

Biotech had a deep bear market and finally became very oversold in October. Market conditions have been generally improving and Biotech is a sector that may benefit more than most due to the oversold condition. Since October LABU has doubled and appears to be still early in a recovery rally from oversold conditions. Daily charts

Thursday, November 16, 2023

$SPX Big Picture Targets

SPX has been in an uptrend following the "mini" 2022 bear market. SPX is likely to trend up and continue possibly into 2025. There will be some nasty drops along the way, but SPX is currently in a bull phase. Daily

Thursday, November 2, 2023

$SPX - Support at 50 Weekly

SPX quite simply bounced at the 50 weekly. Next week SPX can be expected to settle back to near the 50 weekly for a test of support. During November SPX will probably struggle and test last week's low later in the month. Weekly

Tuesday, October 17, 2023

XLE - Consolidation Period Over

XLE has been consolidating sideways for more than a year and looks to be working on breaking up through resistance. Middle East conflicts may be giving energy prices some lift in short term. Daily

Monday, October 16, 2023

$VIX - Update

VIX went up to test the upper trendline as expected. Support seems to have formed at the horizontal orange level. Weekly