The Economic Modern Family - How Are They Looking?

After a brief visit to lower prices, everyone (almost everyone) in the Economic Modern Family gained in price this past week. We give honorable mention to Granddad Russell 2000 IWM. Not only did IWM show bullish muscle before the other three indices did, it also had the best percentage gain.

Partially because of a rising consumer sentiment and a declining unemployment rate, Gramps got happy. As a result, Granny Retail XRT gained as well. More importantly, she held the major moving averages.

Big Brother Biotechnology IBB has been on a “high” since the week of October 25th.

However, a couple of the “kids” rallied into resistance. Furthermore, one sector closed down for the week-an important sector at that.

IWM, (top left) looks intent on trying to reach its all-time high made in 2018 at 173.39. That’s both good news and bad news.

The good news is that at this rate, IWM might get there. The bad news is that IWM has $10.00 more to run to get there. That’s a lot for an older gent.

In the middle top is Regional Banks KRE. That’s one sector that is running into resistance from February and October highs at 57.52.

Far right is the troublesome sector. IYT closed down for the week. the With the prior week’s close at 195.37, this week it closed at 192.68.

What’s wrong with IYT? For now, it seems our Tran is not buying into the Santa rally theory. For my money, I will be watching IYT to either get through 195 and alleviate the tension, or break below 188.25 and send an ominous signal to his brethren.

On the bottom row, we see Retail XRT. Should IYT cooperate, this sector over 45.41 has upside potential. 44.00 or the green line 200-week moving average needs to hold. 

In the middle you see where the speculators have been buying. What you do not see is the resistance at its 2018 highs or 122.97. Yes, this has been a mover and a shaker. However, as high as IBB is, it’s still far from its 2018 highs and significantly far from it’s zenith high in 2015.

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