Major Sector Indexes....Updated chart, showing key technical features, MAs, trendlines, patterns, support/resistance areas..
With the exception of XLE Energy, all remain in major downtrends, with falling MAs...HGX Homies an interesting exception, where the 50dMA, ST trend, has flattened and turned slightly up, and the index over the past few weeks has spent time above the 50d, and appears now to be enjoying its support..
All held above their Jan lows last week except for XLF Financials..
As to patterns, the XLK Tech is showing a possible pennant in formation here.. The HGX Homies continues to show the possible formation of an IH&S, but a move back towards the neckline would be needed to give that possibility more substance..
With respect to the RSI indicator, HGX Homies also shows clear positive divergence, in effect now since the Nov low..RLX Retail RSI somewhat positive in that it has recently broken a DT from the early Dec high..
Please note...lots of problems Friday with my datafeed and chart updates, but I THINK these charts are OK..
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