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Soultrader

[Filtering Out Fib Setups]

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As an alternative to looking at sectors you can look at the individual DJIA stocks which include Citibank for banking and Intel for semiconductors. Banking seems to be a laggard in the current rally.

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As an alternative to looking at sectors you can look at the individual DJIA stocks which include Citibank for banking and Intel for semiconductors. Banking seems to be a laggard in the current rally.

 

You think so? Hmm... one of my favorite sectors to watch is Banking and the semi's.

 

Heres a couple strategies for the YM.

 

Let's say the YM is testing the HOD. But Banking Index has failed and the Semi's may be rallying but not near the HOD... I look to fade the YM.

 

If the YM is reaching the HOD but Semi's make new highs followed by Banking... im looking for a breakout. (although I never play breakouts) Basically, I would not short.

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That's definitely something I need to look into. The more you can read the behaviour of the underlying stocks the better because that's what drives the market. NYSE total volume is also interesting.

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