In the past month, as U.S. stocks persistently climbed to high altitudes, air has progressively gotten thinner as far as shorts are concerned. With that said, the action last Friday raises the odds that the latter is about to get … Continued
The SPDR Consumer Discretionary ETF (XLY) went through a lot last week – down 2.4 percent, as media and consumer discretionary stocks like Walt Disney (DIS) took it on the chin. On a weekly basis, the ETF is overbought and … Continued
Hindsight is always 20/20. Back on June 1 when I hypothetically wrote a June 5th weekly 76.50 naked call on the SPDR Consumer Discretionary ETF (XLY), it turned out to be a dud trade. The idea was to generate income, … Continued
The SPDR Consumer Discretionary ETF (XLY) finds itself at a crucial juncture. And those that are short likely have some decisions to make. Heading into today, over the past 12 sessions XLY has made a high of $78.31 and a … Continued
June’s housing starts will be published this Friday. Month-to-month, this is a volatile series. May was down 11 percent, while April was up 22 percent. Historically, starts remain low. As Chart 1 shows, it is not often the green line … Continued
The SPDR Consumer Discretionary ETF (XLY) dropped 0.9 percent last week, to $77.20, and looks poised to come under pressure medium-term. On a weekly chart, there have been back-to-back doji candles – as well as in four of the past … Continued
IWM, the iShares Russell 2000 ETF, broke out Thursday, and it is time to pay heed to that famous quote, “When the facts change, I change my mind. What do you do, sir?” To refresh, back on May 26th, hypothetically … Continued