The risk on trade in stocks would love to see each of these “take out” these overhead channels.
The 4-pack below looks at the S&P 500, Russell, Transports and the Bank Index.
(Click on image to enlarge)
The trend on each of these is up. Each is testing breakout levels at (1).
The risk on trade in stocks would love to see each of these “TAKE OUT” these overhead channels at (1)!!!
With numerous sentiment indicators hitting levels not seen in years, breaking out/taking out at (1), would attract buyers. What takes place at (1), should set the tone for the first part of 2017.
Full Disclosure- Premium Members bought banks in late August before the rally and have been selling into strength and bringing up stops. Risk On trade in the broad market and banks, wants/need this ratio to have “different results this time!” Should this ratio breakout, game plan is to add back some back exposure, that has been reduced of late.
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