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Friday, May 3, 2024

A leading SPDR sector looks to roll over

Courtesy of Read the Ticker.

a-leading-spdr-sector-looks-to-roll-overIt happens to all of us, including strong sector trends, father time catches up with us and we get tired very easily.



The SPDR Health (XLV) sector has exhausted buyers, and it does not help with negative fundamental news of Obama care issues.



A test of support is highly likely. Demand looks weak. Maybe time to rotate your health sector stocks into gold mining stocks. Just a thought!



In the chart below:

RTTSteps, RTTTrendStatus, RTTNetVolume





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XLV




NOTE: readtheticker.com does allow users to load objects and text on charts, however some annotations are by a free third party image tool named Paint.net



Investing Quote…



..”There is a time for all things, but I didn’t know it. And that is precisely what beats so many men in Wall Street who are very far from being in the main sucker class. There is the plain fool, who does the wrong thing at all times everywhere, but there is the Wall Street fool, who thinks he must trade all the time. Not many can always have adequate reasons for buying and selling stocks daily – or sufficient knowledge to make his play an intelligent play.”…



Jesse Livermore





..”Markets are constantly in a state of uncertainty and flux and money is made by discounting the obvious and betting on the unexpected”..



George Soros





..“The main purpose of the stock market is to make fools of as many men as possible”..



Bernard Baruch







..”Stock market bubbles don’t grow out of thin air. They have a solid basis in reality, but reality as distorted by a misconception”..



George Soros





In the short run, the market is a voting machine, but in the long run it is a weighing machine.



Benjamin Graham







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