Despite decline in major indexes during the week, there are encouraging signs of multi-week bases emerging in laggard sectors such as $XLE, $XLRE, and $XLF. Additionally, both $XLI and $XLK are within a 3% range of their all time high. It would be a shame not to reach those record levels, considering the remarkable resilience displayed amidst concerns of an impending recession. Thanks for reading. PS: If you enjoy the above curated article, you may follow me on twitter (@jfsrevg) to get daily market diary, trading ideas and intermittent reflection on life as a trader.
...Week of 10/7/2023 Market Diary,
Despite decline in major indexes during the week, there are encouraging signs of multi-week bases emerging in laggard sectors such as $XLE, $XLRE, and $XLF. Additionally, both $XLI and $XLK are within a 3% range of their all time high. It would… pic.twitter.com/6CrGY9YJKR — Jeff Sun, CFTe (@jfsrevg) July 8, 2023
