XLY (Tsla and Amzn)
Been awhile since I charted XLY..
Rallied up to resistance last 3 weeks.
Wedge pattern is showing here similar to Amazon chart (See link)... that's why I like to look at a stocks sector before I chart and trade the stock. Stocks that are heavily weighted in a sector tend to move more In sequence with the chart of that sector.
The Daily CCI is up in corrective territory, I think we test 124 before a leg up and a breakout.
Very very bullish over 150. Anything below that I consider a fake out
Rallied up to resistance last 3 weeks.
Wedge pattern is showing here similar to Amazon chart (See link)... that's why I like to look at a stocks sector before I chart and trade the stock. Stocks that are heavily weighted in a sector tend to move more In sequence with the chart of that sector.
The Daily CCI is up in corrective territory, I think we test 124 before a leg up and a breakout.
Very very bullish over 150. Anything below that I consider a fake out
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