Dot Point Weekly - 45
A brief note on my thoughts and important levels going into next week
Hi friends, thank you for the support and feedback!! This weeks weekly notebook will be a short one as I have my end of month notebooks coming out shortly. From next week onwards the weekly notebook will be less static and will have a wider chart selection.
Download Notebook: https://bit.ly/3oQSTKM
Inside this notebook, you will find a short-term summary of my analysis of the top US indices and US sectors using technical analysis.
My observations from this week:
Consumer Discretionary was the weakest sector this week dropping a huge 6.55%. However, the chart continues to be the most bullish of all the sectors, so as long as prices are above 133 on a daily closing basis, then the breakout is in intact, and it can look for further upside.
Materials are at a potential inflection point as prices test a key support/resistance zone that’s been intact for over 2 years. can you see how relative strength is also outperforming If prices were to stage a rally, here would be a very logical level for it to begin.
Health Care was down this week dropping 5.71% and it broke decisively below key support at 105 this week. It is now looking at forming a short-term downtrend with lower highs and lower low.
Other fun facts:
8 of 11 sectors are above their 200-day moving average.
On average, the 11 sectors are -1.80% Month to Date.
On average, the 11 sectors are -4.53% Year to Date.
On average the 11 sectors are 16.92% from their all-time highs.
On average the 11 sectors are 15.28% from their 52-week highs.
Only 4 of 11 sectors are above their 2019 highs.
Only one sector is still below its 2018 lows.
If you have any questions about this notebook, please feel free to contact me on Twitter: @granthawkridge
Download Notebook: https://bit.ly/3oQSTKM
Stay safe and good luck out there…
GH
P.S. This notebook is a work in progress, so if you have any questions or feedback, please feel free to contact me on Twitter: @granthawkridge
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