Daily Technical Strategy

Alt-Energy & Fin-Tech starting to strengthen while Mid-Caps have broken out to new highs

Technical Strategy Video (Recorded Monday, October 25th):

The video in this report is only accessible to members
The video in this report is only accessible to members

Key Takeaways

  • Monday's follow-through in New high territory for S&P, DJIA occurred on better market breadth than last week, while NASDAQ now just 1% away from new all-time highs
  • Mid-Cap 400 breakout back to new highs to join Large-Caps is constructive technically, while Small-caps have begun to outperform; IWM breakout should follow
  • Alt-Energy has begun to pick up strength lately after months of lagging the broader Energy move; Meanwhile, Fin-Tech breakout back to new highs should drive outperformance

Tech earnings got kicked off with Facebook post-close Monday. Despite posting slower sales growth, the stock jumped after-hours to fill last week’s gap and traded over $342 before settling a bit (Trading $333 as of 5:30pmEST vs 10/25 close of $328.69) The recent stabilization is thought to be a technical positive in the short-run. Thus, after its recent underperformance since September, this ability to hold and turn higher looks to be a short-term bullish factor.

The video in this report is only accessible to members

Global X FinTech ETF breaking out bodes well for further outperformance

The FinTech group looks to be quickly coming back to life, following a lengthy 6-8 month ...

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