I will keep showing these weekly charts up until and after these massive trading ranges reconcile up or down.
Will they all reconcile at one time? Maybe but unlikely.
Will some remain rangebound? For a time yes, but then gravity or FOMO will change that.
Are there sectors that are more important than others in the overall macro? For sure.
Semiconductors SMH as the leader will be compelling over the range.
Just as the Retail Sector (XRT) has 70% of the GDP should XRT fail the range, be equally if not more compelling.
The bigger point is that we HAVE something tangible to watch.
Something, that speaks louder than any pundits’ words or “what if” speculations.
Want to see me explain consolidation and give you actional prices to follow?
https://stockpick.app/videos/investor-education/6407
Consolidation is one of our favorite chart patterns, especially when prices are consolidating at new highs or lows.
The direction the price follows, up or down out of the consolidation can lead to explosive moves.
Twitter: @marketminute
The author may have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author and do not represent the views or opinions of any other person or entity.
