Profit Taking Temptation Is Growing

with prices stretching out to uncharted territories, temptation to take some money off the table is on a rise amid a growing sense that stocks might be running ahead of fundamentals. However, as recent trading actions suggested, nobody wants to do too much too soon. So, while sitting on the overcrowded bullish bandwagon, we’ll begin to watch for the next sell signal

SPDRs Report

This is Capital Essence’s U.S. Market ETFs Trading Map – SPDRs Sector Report for January 22, 2020. SPDRs Report is the daily, weekly and monthly technical overviews and analysis for major indices, key sectors, commodities ETFs. This information is a comprehensive summary derived from our proprietary trading system.

Short-term Consolidation Could Be in The Wings

while the overall technical background remains bullish, the S&P is overbought following recent advance. While overbought condition is normal during long-term uptrend, it’s suggested that upside momentum might not sustain without at least a short-term breather. So, there is no big commitment to accumulate stocks aggressively at this point. There is a high probability that the S&P would consolidate before a new leg higher. As for strategy, we would look to increase upside exposure on market dips rather than chasing breakouts.

SPDRs Report

This is Capital Essence’s U.S. Market ETFs Trading Map – SPDRs Sector Report for January 21, 2020. SPDRs Report is the daily, weekly and monthly technical overviews and analysis for major indices, key sectors, commodities ETFs. This information is a comprehensive summary derived from our proprietary trading system.

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