If you're unfamiliar with this sector , this the home sector of
1.Google
2.Meta
3.Nflx
4.Disney
As you can see this weekly chart is showing a big arse Inverted H&S. Your rarely see H&S so big that you can spot them on the weekly too.
This year the only other massive Inverted H&S I've seem is NVDA.
At first when I saw it, I was like GTFOH, no way Nvda back to 290. Alas we have arrived
Still this thing has to breakout first .
I'd say anything over 61 here is a breakout
With those tech names having earnings this season will see what happens in another 2weeks but as you can see what happen to meta and nflx when this sector went from 46 in December to 58 now. Where will those stocks go if XLC breaks out to 71?
1.Google
2.Meta
3.Nflx
4.Disney
As you can see this weekly chart is showing a big arse Inverted H&S. Your rarely see H&S so big that you can spot them on the weekly too.
This year the only other massive Inverted H&S I've seem is NVDA.
At first when I saw it, I was like GTFOH, no way Nvda back to 290. Alas we have arrived
Still this thing has to breakout first .
I'd say anything over 61 here is a breakout
With those tech names having earnings this season will see what happens in another 2weeks but as you can see what happen to meta and nflx when this sector went from 46 in December to 58 now. Where will those stocks go if XLC breaks out to 71?
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.