XBI - Support and Resistance

XBI Biotech has been weak and is only finding some temporary support at the 200 daily average. This is a common chart and typically lower prices follow. Daily

XLE - Strong Oil!

The talk of cutting rates during the inflationary Cycle is pressuring Oil shares higher. This coupled with worldwide wars underway, and the bursting of the the mirage that electric cars would reduce oil consumption in the short term is leading to an Oil surge. In addition, on the supply side, the artificial selling of Oil out of the Strategic Petroleum Reserve has been absorbed easily into the market and time is running out. Weekly

$SPX - Overbought on Weekly

SPX looks overextended and is overbought on weekly charts. A correction is likely underway. Probably SPX will see significant declines this week and particularily next week to start with and eventually testing the 50 week average again. Weekly

$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

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

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

$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