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David Wilson's Chart of the Day

David Wilson's Chart of the Day
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Dave Wilson's Chart of the Day


Energy Stocks Show U.S. Investors Are Digging in the Dirt
“What’s old is new” when it comes to U.S. energy stocks, according to Jonathan Krinsky, chief market technician at Bay Crest Partners LLC. Krinsky compared two exchange-traded funds in a report Sunday to make his case. He cited the ratio between the SPDR S&P Oil & Gas Exploration & Production ETF and the First Trust Nasdaq Clean Energy Green Energy ETF, which plunged 97% between October 2012 and last November. Since then, the ratio has more than doubled. Oil and gas “looks timely to us,” Krinsky wrote, after the SPDR ETF stalled in the past two months. ....

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OP: It's All About Friday's Jobs Report


Software stocks in the U.S. and Canada are going through a “relative breakdown,” according to Jonathan Krinsky, chief market technician at Bay Crest Partners LLC. Krinsky cited an exchange-traded fund that’s linked to the S&P North American Expanded Technology Software Index in a report Tuesday. The ratio between the index and the S&P 500 fell 16% through Tuesday from a record set in December, according to data compiled by Bloomberg. Along the way, the ratio reached its lowest level in a year.
Our View
It’s All About Friday’s Jobs Report
The ( ESM21:CME) traded back up to 4180 during yesterday’s S&P 500 index trade. The future rallied 60 points off Tuesday’s 4120.50 low. We could do a big thing on all the ‘ups and downs’ but that’s not what we are going to do today. What we can say is that late in the afternoon, the Nasdaq futures that were weak all day reversed and the ES went down with it. In the end, the overall tone of the ES was firm but remain ....

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