Weekly Notebooks - Week 36
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/2ECpjGY
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:
XLC was the strongest sector this week gaining 4.63%. XLC continuing to grinding in an upwards direction since a break of resistance three weeks ago. As long as prices are above this level, then the bias continues to be higher.
XLP gaining 2.29% on the week and closing at a new all-time high for 2020.
XLU was the weakest sector this week falling -0.59%. XLU has broken below key levels of support. 60.50 is still an important level that I am watching right now. If it can't get back above, it will be hard to be bullish. This level also coincides with the 61.8% Fib level and its 200-day moving average.
If you have any questions about this notebook, please feel free to contact me on twitter: @granthawkridge
Download Notebook: https://bit.ly/2DiC7BA
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, with two more charts this week moving above my bullish levels:
Bullish: 13
Neutral: 8
Bearish: 2
It is worth mentioning again these levels are subject to change when the price/data changes... so yes, tomorrow they might be different!
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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