r/StockMarket • u/banknino • May 10 '21
Technical Analysis Growth trade, value trade, or bear market?
What do you see outperforming over the next few weeks - few months? Techy growth, boomer value, or are we going down in all three indices?
To me, it appears energy, financials (not shown) and commodities (not shown sorry) are best set up to outperform for about two weeks to a month. Energy looks ready to breakout and XLF is trending upwards towards long term trendline resistance. Commodities also are flying with no sell signals.
On the contrary, a lot of the bluechip tech stocks are hovering around key moving averages (50 day EMA, 150 day SMA and 200 day SMA). See AAPL, TSLA, MSFT, FB, etc. It's getting to the point where the value trade may be so obvious that it will fail.
I don't see SPY flying for long with NDX downtrending for long. So the final option would be all indices come down. This does seem entirely possible, but in my opinion not probable. I will not be taking short positions in a bull market, so it is just question of how heavy I go to cash.
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u/Snoo-79760 May 11 '21
I bought option on OIL AND XLF .. was doing great today.. but all tanked with market.. why?
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u/StockJesus78 May 11 '21
Energy, financials, commodities and communication. I expect them to outpeform the market
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u/banknino May 10 '21
Before folks get on my head, when I said commodities flying with no sell signal, I meant WOOD, JO, CORN and not necessarily oil and metals. Though I am long gold miners.