Weekly Notebooks - Week 35
A brief note on my thoughts and important levels going into next week
Hi friends, thank you for checking out my weekly notebooks for week 35.
Download Notebook: https://bit.ly/2Qi8iDR
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 last week:
XLK was the strongest sector this week gaining 3.57%. XLK’s next upside objective is still 124.50 which represents the 161.8% extension of 2020 crash.
XLV continues to be stuck in a range.
XLU, XLRE & XLF breaking down to new relative lows.
XLY once again closed at new all-time highs last week. The next upside objective is 164.50 which represents the 161.8% extension of 2020 crash.
XLE was the weakest sector this week falling -5.66%. It continues to hold above its support, but still a complete mess with a downward bias over the long-term.
If you have any questions about this notebook, please feel free to contact me on twitter: @granthawkridge
Download Notebook: https://bit.ly/31iMbn8
Inside this notebook, you will find my significant price levels which in turn provides a base for my bullish, neutral or bearish thesis on the markets for the short-term future. It is worth mentioning these levels are subject to change when the price or any other data changes.
Bottom line: I continue to be bullish on the market, I had to make multiple level changes this week due to movement within the market over the past two weeks.
It is worth mentioning again these levels are subject to change when the price/data changes... so yes, tomorrow they might be different!
Bullish: 11
Neutral: 10
Bearish: 2
So, if you have a different thesis for the market, please share your ideas in the comment section or get in contact with me on Twitter: @granthawkridge. The stock market always has two sides to the story… buyers and sellers, and it’s okay to switch between the two when the price/data changes.
Stay safe and good luck out there…
GH
P.s. These notebooks I share are 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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