• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Stock Economic Modern Family — Home for the Holidays, Part 2
Stock

Economic Modern Family — Home for the Holidays, Part 2

by November 28, 2023
by November 28, 2023 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

Over the weekend, I covered small caps, retail, semiconductors and transportation. The conclusion was that “If you put these four charts all together, we get a reunion that is filled with the makings of a family breakdown. While Granny XRT and Sister Semiconductors SMH give us investors reasons to feel good about gorging ourselves, the rest of the Family (IWM & IYT) remind us not to eat what we cannot digest.”

Today, we cover 2 other sectors of the Economic Modern Family.

KRE, or Regional Banks, rallied right into resistance. It is performing on par with the SPY. Momentum shows a bullish divergence, but with the possibility of a mean reversion. Most importantly, KRE has recovered from the March lows, but has not really gone anywhere compared to other sectors and stocks that have made new all-time highs.

Talk about a family breakdown. KRE scared investors a few months ago. Now, however, there’s some talk about commercial real estate and bank defaults going forward. And most believe that the FED will add the necessary liquidity. Alternatively, if we do have a recession, easing monetary policy will help the banking sector. We believe perhaps a sea change — this banking as we have always known it is changing to the crypto landscape.

Regardless, KRE must clear the 200-DMA and July 6-month calendar range to continue its ascent. A break under 40.00 would be a warning sign.

Over the weekend, we said that IYT remains in a downtrend, under the July 6-month calendar range low. Momentum is in a bearish divergence to price, as it has yet to clear its 200-DMA while price has. Is IYT more inclined to lead or follow from here? That is a big question and one that we should watch for the answer to so we can assess if this rally is sustainable.

Sister Semiconductors SMH, in a bullish phase, shows momentum in a bearish divergence. Nonetheless, Biotechnology IBB has been the worst sector of the Family. IBB remains in a bearish phase, well under the July 6-month calendar range low, and it is underperforming the SPY.

One bright spot though, is that the Real Motion indicator, or momentum, shows a move over the 50-DMA or a bullish divergence. Two closes in price over the 50-DMA and it is possible IBB runs back up to resistance around 124. IBB is ripe with picks, some of which I have covered in the media in the last 2 weeks. Others I will discuss this week in the media.

This is for educational purposes only. Trading comes with risk.

If you find it difficult to execute the MarketGauge strategies or would like to explore how we can do it for you, please email Ben Scheibe at Benny@MGAMLLC.com, our Head of Institutional Sales. Cell: 612-518-2482.

For more detailed trading information about our blended models, tools and trader education courses, contact Rob Quinn, our Chief Strategy Consultant, to learn more.

Traders World Fintech Awards

Get your copy of Plant Your Money Tree: A Guide to Growing Your Wealth.

Grow your wealth today and plant your money tree!

“I grew my money tree and so can you!” – Mish Schneider

Follow Mish on Twitter @marketminute for stock picks and more. Follow Mish on Instagram (mishschneider) for daily morning videos. To see updated media clips, click here.

Mish in the Media

Mish and Maggie Lake cover inflation, technology, commodities and stock picks in this interview with Real Vision.

Mish talks trading range, fundamentals, and how to think about commodities right now on Yahoo! Finance.

In this appearance on BNN Bloomberg, Mish covers the emotional state of oil and gold, plus talks why small caps are the key right now. She also presents a couple of picks!

Learn how to trade commodities better with Mish in this interview with CNBC Asia!

Mish and Charles Payne discuss why the small caps, now in mid range still have a chance to rally in this appearance on Fox Business’ Making Money with Charles Payne.

Mish talks about Tencent Music Entertainment on Business First AM.

Mish talks bonds with Charles Payne in this clip from October 27, recorded live in-studio at Fox Business.

Coming Up:

November 28: Your Daily Five, StockCharts TV

November 29: Crypto Town Hall & Schwab Network

November 30: Live Coaching

December 3-December 13: Money Show Webinar-at-Sea

Weekly: Business First AM, CMC Markets

ETF Summary

S&P 500 (SPY): 450 support, 465 resistance.Russell 2000 (IWM): 181 resistance, 174 support.Dow (DIA): 360 resistance 346 support.Nasdaq (QQQ): 388 now pivotal support.Regional Banks (KRE): 45 big resistance.Semiconductors (SMH): 160-161 pivotal support.Transportation (IYT): 235 support.Biotechnology (IBB): 120 pivotal.Retail (XRT): 65 resistance, 60 pivotal support.

Mish Schneider

MarketGauge.com

Director of Trading Research and Education

You Might Also Like
  • Oh Boy… Here Comes the Pullback!
  • The Ord Oracle April 25, 2023
  • This S&P 500 Rally is Defying the Experts – Here’s What You Need to Know
  • Stocks Are Going UP “With or Without You”
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Honda recalls almost 304,000 Accords and HR-Vs over seat belt defect
next post
Iran flexes military advancements, increasing calls on Biden to act: ‘Weakness only invites more aggression’

You may also like

It’s been a long time Mr Bear, where have you...

August 2, 2024

What Could Go Wrong This Week? Ummmm, A Lot!

June 11, 2023

DP Trading Room: Spotlight on Mega-Cap Earnings

July 29, 2024

Is this Bounce a Robust Rebound or a Dead-Cat Bounce?

December 26, 2024

STRONG Indicators for 2024!

December 30, 2023

GNG TV: Industrial “Go” Trends are a Big Help to...

July 21, 2023

Useful Directional Indicator Criteria for Your Success as a Trader!

December 7, 2023

Stock Market Rally Fizzles – What to Do Now

October 14, 2023

Is Inflation Permanently “Dissed”?

July 14, 2023

Sector Spotlight: Latest Drop in US Dollar Sending Markets Higher

July 18, 2023

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout, pulls outlook

      May 8, 2025
    • Don’t Buy Robinhood Stock… Until You See This Chart Setup

      May 8, 2025
    • UnitedHealthcare sued by shareholders over reaction to CEO’s killing

      May 8, 2025
    • The Unpredictable Stock Market: How to Make Sense of It

      May 8, 2025
    • AMD CEO calls China a ‘large opportunity’ and warns against strict U.S. chip controls

      May 7, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,632 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,339 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,320 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,302 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,186 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,066)
    • Investing (538)
    • Stock (2,530)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout,...

      May 8, 2025
    • Don’t Buy Robinhood Stock… Until You See This Chart Setup

      May 8, 2025
    • UnitedHealthcare sued by shareholders over reaction to CEO’s killing

      May 8, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,066)
    • Investing (538)
    • Stock (2,530)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Market Stumbles Near The Edge of...

    June 18, 2024

    Stock Market Was Tentative This Week:...

    January 13, 2024

    The Best Five Sectors, #12

    March 24, 2025
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here