Of note this past week we had two sectors that stood out making new 52-week highs.
XLP (Consumer Staples ETF) has recovered 38% of it's March lows and closed 11% away from it's Sept. '08 highs.Also there's XLV (Health Care Sector ETF) trying to recover previous support levels.Within XLV there's BMY that broke out of a long-term sideways range and may have some follow-through going forward.
The setups I include on this blog are used in conjunction with the 3/10macd and the criteria I ascribe to it as a way to alert me to an existing condition of price. The key concept to take away from this blog is that I try to anticipate what will happen on the higher time frame by using a faster time frame to trigger the trade setup. I do not trade a "system" I use two indicators to clue me in to price conditions. Please read the Disclaimer located in the sidebar of this site. I can be contacted via email at toddstrade@gmail.com
I am always open to questions, comments, or suggestions on how to improve this blog.
No comments:
Post a Comment