As goes the Dollar, so goes the markets:
Gold (
GLD here) sits in a high, tight
flag pattern currently
The Financial sector (
XLF) had a false breakout this past week, but still bases under that $15.50 level
While
GS is starting to build a potential bear flag (or potential Right Shoulder of a small H&S pattern)
XLE isn't getting the surge perhaps many were looking for, hasn't given up the Resistance to Support changeover.
The Transportation Index faltered this week. Watch for a breakdown of the "M"s midpoint:
The
Dow Jones Utilities Index has been in a sideways channel since July (the long price stays contained within a range, the stronger the move out of that range).
Not something I typically look at, but here's the
Dow Jones Equity REIT index, price looks to be "drooping" into that neckline, not good.
And finally, there's the SPY. A down week overall, but interesting where is bounced and found support to close this week. On the Monthly time frame you can see Price found support at September's High
and on the weekly you can see price bounced (on Friday in fact) off of last week's open price.
Gold (GLD here) sits in a high, tight flag pattern currently
The Financial sector (XLF) had a false breakout this past week, but still bases under that $15.50 level
While GS is starting to build a potential bear flag (or potential Right Shoulder of a small H&S pattern)
XLE isn't getting the surge perhaps many were looking for, hasn't given up the Resistance to Support changeover.
The Transportation Index faltered this week. Watch for a breakdown of the "M"s midpoint:
The Dow Jones Utilities Index has been in a sideways channel since July (the long price stays contained within a range, the stronger the move out of that range).
Not something I typically look at, but here's the Dow Jones Equity REIT index, price looks to be "drooping" into that neckline, not good.
And finally, there's the SPY. A down week overall, but interesting where is bounced and found support to close this week. On the Monthly time frame you can see Price found support at September's High
and on the weekly you can see price bounced (on Friday in fact) off of last week's open price.
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