Stocks Start December on a Sour Note Following U.S. PMI Data and Trade Comments
- Stocks Pullback on U.S. PMI Data and Trade Concerns
- SPY Has Support in the $300 – $305 Zone
- Technology Remains Strong Relative Leadership
- Discretionary Holds Relative Support
- Futures Point to a Lower Open Today
Key Chart – Tech. Select Sector SPDR Fund – XLK – Very Bullish
The Technology Select Sector SPDR Fund (XLK) has a Very Bullish Chaikin Power Gauge ETF Rating and has been leading the SPY since February. The OB / OS Indicator is in the middle of the range but Chaikin Money Flow is bullish. XLK is above the rising long-term trend line and has a bullish Power Bar Ratio at 19 to 7.
Disclosure: Chaikin Analytics, LLC
Chaikin Analytics, LLC, and its parent Chaikin Holdings, LLC (the “Company”) are not registered as a securities broker dealer or investment advisor with either the U.S. Securities and Exchange Commission or with any state securities regulatory authority.The Company is not responsible for trades executed by users of their reports, analytics, web sites or mobile apps based on the information included herein. The information presented in the Company’s reports, analytics, etc. does not represent a recommendation to buy or sell stocks or any financial instrument nor is it intended as an endorsement of any security or investment. The information is generic by nature and is not personalized to the specific financial situation of any individual.The user bears complete responsibility for their own investment research and should seek the advice of a qualified investment professional before making any investment decisions. Past performance is no guarantee of future results.The alerts and signals within the Company’s website and products are for information only and should not be relied upon for investment decisions. The Company shall not be liable for any losses incurred as a result of either the accuracy or timing of the alerts. The Company is not affiliated with any other organization and is not responsible for any losses incurred because of any errors or delays in transmission of orders to the user’s account with any other organization.
Disclaimer CFTC RULE 4.41: Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under or over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown.
Disclosure: Interactive Brokers
Information posted on IBKR Traders’ Insight that is provided by third-parties and not by Interactive Brokers does NOT constitute a recommendation by Interactive Brokers that you should contract for the services of that third party. Third-party participants who contribute to IBKR Traders’ Insight are independent of Interactive Brokers and Interactive Brokers does not make any representations or warranties concerning the services offered, their past or future performance, or the accuracy of the information provided by the third party. Past performance is no guarantee of future results.
This material is from Chaikin Analytics, LLC and is being posted with permission from Chaikin Analytics, LLC. The views expressed in this material are solely those of the author and/or Chaikin Analytics, LLC and IBKR is not endorsing or recommending any investment or trading discussed in the material. This material is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation to buy, sell or hold such security. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.