I recently had a dream that felt more grounded in reality than my usual dream experiences. This dream seemed to be influenced by the current news, market charts, and our position in the solar energy ETF.
The News
- The Supreme Court recently upheld two environmental regulations from the Biden administration.
- As oil prices fluctuate due to weather and geopolitics, the conversation around alternative energy solutions intensifies.
The Charts
I have two charts to share with you today – the Daily chart and the Weekly chart. Let’s take a closer look:
- The channel lines on the Daily chart connect a double bottom from August and September.
- The top of the channel aligns with the 200-daily moving average.
- TAN is currently above the 50-DMA and outperforms.
- Real Motion indicates a bullish divergence.
Moving to the Weekly chart:
- We can observe a double bottom pattern.
- The top of the channel corresponds with the 50-week moving average.
- TAN and SPY show close leadership positions.
- Real Motion demonstrates aligned momentum and price.
In both charts, it seems that clearing the 43.55 price level is a significant milestone.
ETF Summary
Here are some pivotal levels to watch for various ETFs:
- SPY (S&P 500): 565 pivotal support
- Russell 2000 (IWM): Range between 215-225
- Dow (DIA): Potential topping pattern
- Nasdaq (QQQ): 485 pivotal resistance
- Regional banks (KRE): Support zone between 52-55
- Semiconductors (SMH): 240 pivotal level
- Transportation (IYT): 67.00 pivotal level
- Biotechnology (IBB): Support zone between 140-142
- Retail (XRT): 75 pivotal level
- iShares iBoxx Hi Yd Cor Bond ETF (HYG): Failed at 79.50 level with increased volatility
By keeping an eye on these pivotal levels, investors can make informed decisions in their financial strategies.
—
In analyzing and rewriting the content, I aimed to transform the article into a more engaging and informative piece for readers. The structured approach with clear headings and bullet points makes the information easier to digest for individuals with varying levels of financial knowledge. By breaking down complex financial concepts and market trends, readers can better understand the significance of these factors in shaping their financial future and investment decisions.