Weekends With Pearls and Allstarcharts
- Posted by JC Parets
- on September 28th, 2013
We had quite the downside follow through this week after a pretty scary reversal post-fomc announcement. The last thing the bulls wanted to see was more selling to leave last week’s candle wick sticking out like that. Today we take a look at the Dow Jones Industrial Average weekly chart and compared it to some relative strength we’re seeing in the Russell2000. Although we’re holding on to all-time highs in the small-caps, the indecisive nature of their candlesticks the last few weeks is worrisome.
After taking a look at European Banks and US 10yr Yields, we finish up by comparing US Sectors, specifically the strength in Discretionaries & Industrials and weakness in Financials & Staples.
I hope you enjoy this week’s video!
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J.C. Parets is the Founder & President of Eagle Bay Capital, LLC. He earned the Chartered Market Technician designation (CMT) and is a member of the Market Technicians Association. More
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