“Overhead Resistance for Energy”
Academic evidence solidifies that the market is a leading economic indicator. No one knows what will happen next in terms of an economic recession, but we can look at the weight of the evidence to put probabilities on our side. Most importantly, Alex and Tyler review $USO on this last day of the month and show how the multi-year trend is approaching an area of strong overhead resistance. Investors can position for potential range-bound conditions in the intermediate term.
While growth briefly outperformed value last week, the relative ratio continued lower this week. On the bright side for bulls, better-than-expected full-year guidance from FedEx after Thursday’s close, tempered some of the growth concerns at the end of last week. A major transportation and logistics company, this is a signal that not all economic growth has been halted. Alex and Tyler review $FDX on a daily and weekly basis for signs of a “Go” trend.
Healthcare $XLV has been outperforming on a relative basis to the S&P500, and Eli Lilly Inc $LLY is another security showing favorable “Go” trend conditions in a market full of “NoGo” charts.
Join the Wealth365 Investment conference July 13th and 15th: www.wealth365.com/gonogo/
00:00 – Intro
01:00 – Daily S&P 500
02:15 – XLK – 60 min
05:28 – SPY Weekly then monthly
07:55 – Growth/Value – SPYG:SPYV
09:39 – $TNX – daily, weekly, Monthly
13:31 – USD or UUP – daily, weekly
15:42 – USO – weekly, then monthly, then daily,
19:00 – XLE – daily, then weekly
21:00 – FedEx (FDX)
24:50 – Eli Lilly & Co (LLY)
25:51 – Bitcoin Daily
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