Alex Cole and Tyler Wood, CMT deliver a view of relative and absolute trends across the investible landscape. S&P500 (SPY) confirms a “Go” trend on both daily and weekly timeframes and Gold ($GLD) shows further upside as the “Go” trend strengthens. Oil ($USO) rallies back to test its 7 month downtrend line and remains in “NoGo” Conditions. The top four cryptocurrencies by market cap continue to outperform $SPY on a relative basis. Within US Equities, out-performance from technology (XLK) communications (XLC) continues, but there is also strength in the defensive areas of the market. Consumer staples (XLP) and even utilities are outperforming the index. Drilling into the industry groups, non-durable household goods and soft drinks lead the XLP. Charts of Sysco (SYY) and CocaCola (KO) offer important lessons in trade risk management and capturing opportunities within leadership groups.
Coca-Cola Co KO, S&P 500 ETF Trust SPY, 10 Yr Yield $TNX, US Dollar UUP
Gold Trust GLD, United States Oil USO, S&P 500 ETF SPY
Sysco Corp. SYY, Coca-Cola Co KO, Baidu BIDU
Meta Platforms META