It's Saturday Morning Chartoons time.
This is the weekly post that aggregates all the charts we put together throughout the week and organizes them all into one, easy to flip through deck.
One thing that stood out to me this week was the relentless amount of mixed intermarket signals.
On one hand, we have Lumber Futures getting completely destroyed. When I've ignored Lumber in the past, it's been a mistake.
This is probably something we shouldn't ignore:
On the other hand, if things were about to get worse for the Stock market, then why are Consumer Staples and Utilities both making new relative lows?
This is evidence of risk appetite, not risk aversion:
I think this all continues to speak to trading what's in front of you, and not overthinking the intermarket relationships.
We discussed all of this on Tuesday night's Live Conference Call.
Also make sure to check out this week's Saturday Morning Chartoons. These are my favorite!
You need to have a subscription to access this content in full.
Log in or
subscribe
