ChartSmarter is a service dedicated to the art of technical analysis.
On a daily basis we write up actionable ideas on a specific, major S&P sector on both the long and short side, in an easy yet thorough way. In the notes we give precise entries and exits, while looking to capture the "meat" of a trend. Give us a try today with a 2 week FREE trial.
Monthly
- Full Access to all of the Game Plans
- First 2 weeks FREE, your account won't be charged until the trial period is over
Loyal Reader Special
- Full Access to all of the Game Plans
- First 2 weeks FREE, your account won't be charged until the trial period is over
Latest Chartsmarter Game Plans
Technology Sector Review: 4/14/21
It's An Nvidia World: "And we are all just living in it." The stock this week has really separated itself from its peers. This week alone it has jumped nearly 9%, and is looking for its first WEEKLY CLOSE above the very round 600 number (weeks ending 2/12-26 were all above 600 intraweek but were unable to CLOSE above the figure). Amazingly the weeks ending 3/12-26 all CLOSED extremely taut within just .67 of each other, and we know moves breaking from that type of coiling action are often powerful. Contrast NVDA's big move this week with that of rivals MU, AMD and INTC, which have all dropped by 3.3, 3.2 and 4.6% respectively so far. If has often been compared mostly to AMD, and there may have been some foreshadowing of the big bifurcation that was to occur last Friday when AMD was unable to climb above its downward sloping 50 day SMA, and NVDA CLOSED up nearly 1%, and 9 handles off its intraday low.
Consumer Sector Review: 4/13/21
Discretionary Charge: Over the last one month period consumer discretionary is the second-best major S&P sector. It is a good sign and even better is the reemergence of technology as the strongest behaved of the 11 tracked groups during that timeframe (Monday however, did rear the ugly head of the defensive spaces leading with real estate and staples as 2 of top 3 sectors). But the chart below of the XRT is carving out a potential bullish ascending triangle, and we spoke to strength with this ETF, in our 3/26 Consumer Sector Review. GME is still by far the largest holding, and Monday is testing its rising 50 day SMA, and a bullish engulfing candle from 3/25. Other top holdings that look attractive are SIG, RCII, and KSS. AMZN is the big wild card in the consumer space as it dominates the XLY, making up 22% of the ETF. TSLA, which many are still unaware of its large presence in the fund at 15%, packs a powerful one-two bunch to the entire group. On AMZN this week will be interesting if it can CLOSE above the round 3400 number. Has been pesky resistance for the behemoth dating back to last summer.
Industrial Sector Review: 4/12/21
Taking The Elevator Up: Although the industrials have never been the best major S&P sector on a YTD basis in at least 30 years, there are still plenty of very firm leaders within. In 2021 the airlines have been the best sub-sector, but I do not think of them as traditional industrial generals. But other names that are acting robustly in the space are LPX. It is extended, but one must admire its current 10-week winning streak, and all but one of them CLOSED in the lower half of the WEEKLY range. CSX is approaching the very round par number and the last 3 weeks all CLOSED very tautly, within just 1.03 of each other. SAIA has advanced nearly 200%. Below is the chart of OTIS, which began trading on its own nearly one year ago. Friday marked its first CLOSE above the round 70 number, and a move above 71 would be a break above a bull flag formation, which carries a measured move to 79.