Weekly Notebooks - Week 37
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 37.
Download My Notebook: https://bit.ly/3lRLDwJ
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:
XLB was the strongest sector this week gaining 0.73%. As long as prices are above 61.50 on a daily closing basis, then this breakout is intact, and it can look for further upside.
XLF had a flat week only dropping -0.28%. XLF continues to be stuck between two levels of resistance (38.2% & 61.8% Fib level). A key level I am watching is the 61.8% and if we are above this level, then the bias will be a move higher but for now, we are stuck in sideways price action.
XLE was the weakest sector this week falling -4.31%. XLE continues to just hold above its support, but still a complete mess with a downward bias over the long-term.
Interesting upwards moves within the relative strength of XLB and XLP this week vs the S&P 500
If you have any questions about this notebook, please feel free to contact me on twitter:Â @granthawkridge
Download My Notebook: https://bit.ly/3lRLDwJ
Download My Notebook: https://bit.ly/2F0A2uR
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: Even with the wild movements from the last 2 days of the week, I continue to be bullish on the market as my levels are holding!:
Bullish: 12
Neutral: 8
Bearish: 3
It is worth mentioning again these levels are subject to change when the price/data changes... so yes, tomorrow they might be different!Â
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.
Download My Notebook: https://bit.ly/2F0A2uR
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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