This post originally appeared on the Ace Stock Trader Forum for traders on the morning of Sunday, April 13th and is being repeated here….
With many fair weather investors noticing the recent “sea change” in the markets, I thought it was a good
idea to see where these 9 major market ETFs showed the money was fleeing
and where it was going. Most of us on the Ace Stock Trader Forum know that the money has been
fleeing the technology and financials….but how many know where it is
going, besides bonds?
How about the Utilities and Energy?
However, Energy suffered a pullback this week, but it may only be a
re-test of the recent breakout area, so keep an eye on that re-test line
at $88…it could be a great entry point if it survives the re-test
(and keep in mind that the Wall Street big money players may allow it to dip $1 or more below the
re-test line to try and shake out investors before they take it
higher–a common tactic of the big hedge funds) ….with the actions by
Russia on the Eastern Front, there could be a greater demand for US
stocks make sense with falling interest rates…investors looking for
yield and relative safety during a correction will often throw money
into utility stocks.
I show the 9 major Select Spyder charts every day on my public chart list at AceStockTrader Charts on Stockcharts.com ….so be sure to bookmark pages 9 and
10 of my list if you like to see the SPYDER ETF charts as they update on a regular basis.
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