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Giving Thanks!

Thanksgiving is celebrated here in the US on the 4th Thursday of November and is a day to give thanks. Let me say that I’m very thankful for God and family. I was blessed with my first grandchild a little over a year ago and she’s absolutely beautiful….

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Thanksgiving is celebrated here in the US on the 4th Thursday of November and is a day to give thanks. Let me say that I'm very thankful for God and family. I was blessed with my first grandchild a little over a year ago and she's absolutely beautiful. I've never felt a love like the one I have for my granddaughter. If you have grandchildren, I know you can relate.

We all need to keep the stock market in perspective. It's just the stock market. Still, as it relates to the stock market, I have much to be thankful for as well.

StockCharts.com

It's actually quite funny how my relationship with StockCharts.com began. I was doing national radio with my partner John Hopkins and I kept saying things like, "let's take a look at Apple (AAPL) over at StockCharts.com." So I thought to myself, "we're giving StockCharts.com a lot of air time. Maybe, just maybe, they'd like to sponsor our show and help offset the expense?" It was a polite NO from Chip Anderson, BUT I started writing on the ChartWatchers newsletter shortly thereafter in September 2006 (crazy that it's been 15 years already - where does the time go?), and the legendary technical analyst John Murphy joined us live on our radio show. Mind you, I was and still am a HUGE John Murphy fan. I always use the analogy of being a college basketball player and being drafted by the Chicago Bulls to play alongside all-time great Michael Jordan. That's what it felt like to me interviewing John on my show and then writing with him on the ChartWatchers newsletter. What a great start to a great relationship with StockCharts.com!

This isn't just a business relationship for me, though. Many of my best friends work at StockCharts.com. The work that takes place "behind the scenes" is absolutely amazing. Teaming up with this extraordinary group of people has probably been the best business decision of my life. Thanks to everyone at StockCharts.com, I am grateful for all you!

John Murphy

I consider myself a self-taught technician. I love analyzing anything financial-related. I like to dig deep. It's the reason I started my career in public accounting as I was fascinated to see what made businesses "tick." Numbers and charts are my love languages. I'm naturally curious when it comes to the "hows and whys" of the stock market. Who else in their right mind would have an Excel spreadsheet with every day's close on the Dow Jones, S&P 500 since 1950 and the NASDAQ since 1971? But we're all inspired from time to time to be better versions of ourselves and my business inspiration, in large part, came from John Murphy. I'm not a big reader, but I read John's books and they've played a major role in my development as a technician. When I'm asked what book I'd recommend to help learn technical analysis and the stock market, I don't hesitate. Go to the online store here at StockCharts.com and pick up your copy of John's "Technical Analysis of the Financial Markets." It's well worth the read and it may change the course of your financial future or someone close to you, as it did mine. While John's teaching was invaluable to me, I'm most thankful for the inspiration it provided me. I now look under every stock market leaf trying to find the stock market's next clue. In particular, John's intermarket relationships provided the foundation for much of my stock market guidance, research, and education.

I first met John in 2011 at the very first ChartCon in Seattle. After years of admiring his work, he then became a great friend. Thank you John!

Secular Bull Market

Yes, I'm thankful for this raging bull market. It's helping millions of folks around the globe achieve their financial goals and dreams. The best news, in my opinion, is that this long-term bull market hasn't yet run its course. While the financial media tries to rip the market apart at every turn, it just keeps rolling higher and higher. Skeptics have pointed to quantitative easing (QE), the trade war, the COVID-19 pandemic, the national debt, etc. as reasons why the stock market cannot go higher. Yet we keep going higher. The latest reason is inflation that's spiraling out of control. But the growth-oriented NASDAQ 100 ($NDX) is leading the S&P 500 ($SPX) over every time frame in 2021 - year-to-date, last 6 months, last 3 months, last month, etc. Inflation KILLS growth stocks and Wall Street looks ahead 6 to 9 months. If the brilliant MBAs on Wall Street believe inflation will be problematic in the months ahead, you'd see it in the relative performance of these two key indices. However, during the stock market's crazy rise over the past month, here's your relative performance:

Growth stocks are leading. This isn't me making "click-bait" headlines. This is indisputable fact. You see, the charts tell us the TRUTH about stock market behavior. It doesn't get caught up in "what ifs." It's why technical analysis is so incredibly important. Here's a price-relative chart to drive home my point:

When inflationary reports began coming in much hotter than expected in February, you can see that growth stocks (IWF) tumbled vs. its value-stock (IWD) counterparts. That significant relative downtrend took place from February to May and it's undeniable. Growth stocks were crushed. But the ensuing relative inverse head & shoulders pattern was quite bullish and we just broke out above the relative neckline earlier this month. In other words, growth stocks have now outperformed value stocks since February throughout all the economic imbalances and elevated inflationary readings. What does this tell us? Well, it tells me that Wall Street used the selling in the Spring to accumulate growth stocks. Hey, you don't have to believe me. Again, let's let the charts do the talking:

The IWF's AD line rose during February as it appeared to be falling out of favor. I believe it's important to note that the AD line has been rising throughout the year, including over the past 7 weeks or so as clear rotation has taken place back to growth stocks.

Now let's look at the IWD to see how value stocks performed on the same chart and timeline:

The IWD AD line actually declined during February when it was supposedly being accumulated vs. growth stocks. Interesting. Over the past several weeks, the IWD has broken out on an absolute basis, but it's been steadily losing ground vs. growth stocks. And its AD line? It hasn't confirmed the breakout in price.

So the media can hype up inflation all it wants, but as long as Wall Street keeps sending me signals that inflation is not a problem, I will listen to the money and ignore the "click-bait" headlines. In my humble opinion, the media is a pawn for Wall Street. It helps to create the panic and volatility from time to time in order to allow big Wall Street firms the opportunity to accumulate at our expense.

You have a choice. You can listen to the headlines that constantly scream the sky is falling or you can benefit from all the great tools and features here at StockCharts.com to be your own finance MBA.

Thank you secular bull market!

My Colleagues

It always helps to be challenged. StockCharts.com has assembled many of the finest technical analysts around. I would much rather try to objectively assess the technical merits of these blog authors, show hosts, and great friends, than to try to assess the agenda of the media. It's usually most helpful when my colleagues disagree with my technical assessment as it provides another objective opinion about what's taking place on the charts and in the market. I might disagree with their assessment as the stock market always has two sides, but it definitely provides food for thought. And, quite honestly, we all have our own biases that Dave Keller often speaks of, so stepping back to consider another opinion is invaluable.

Thank you to my colleagues for all your tireless work to enable the StockCharts.com audience to make more informed investing and trading decisions!

The Community

The StockCharts.com platform has provided me the opportunity to reach millions of folks around the globe. While I always joke that the only market guarantee I can make is that I'm going to be wrong plenty of times, the truth is that trading and investing can be a very lonely business/hobby. It's a scary thing to invest for the future, because there are so many possible directions to go and none of us have a crystal ball. My work and the work of others here would all be for naught, however, if it weren't for the entire StockCharts.com community of fellow investors/traders. We appreciate you!

When I returned to EarningsBeats.com in September 2019, I never could have imagined the level of support I'd receive. It was a no-brainer decision for me to return to my "roots" as EB's Chief Market Strategist, while also providing me the opportunity to work with my daughter Erin Webber, a fellow CPA. This community support has enabled me to reach dreams that I didn't even know were possible. Whether you've listened to my Trading Places shows, read my blog articles in ChartWatchers, Trading Places, and Don't Ignore This Chart, subscribed to our EB Digest free newsletter, or become a paid member at EarningsBeats.com, you've played a part in my success and the success of EarningsBeats.com. For that, I'd like to say thank you!

Looking Ahead

The past is the past and we can't change any of it - whether we'd like to or not. But the future is not certain or settled. We will play a starring role in our financial future. I'm certainly an optimist when it comes to the stock market as history tells us that stock prices rise much more often than they decline. Also, history suggests that we're still in the early to middle stages of a bullish super cycle. The big picture says that we're in a multi-decade period that favors the equity market. Check this out as pictures do literally say a thousand words:

While many incorrectly try to call major long-term market tops using daily charts, media headlines, and/or preconceived biases, these types of major market reversals are best seen and confirmed on long-term monthly charts. Secular bear markets have never occurred without 2 technical conditions present simultaneously. First, the monthly PPO MUST see a bearish centerline crossover AND the monthly RSI must pierce 40 support. While these signals will not occur at a market top, they do alert us to the fact that we'll be in for YEARS of frustration. These signals absolutely should be viewed as bearish technical confirmation and investing/trading strategies should be adjusted accordingly. Fortunately, we're potentially in Year 8 of this secular bull market. I consider the start of a secular bull market to be the time that we clear previous tops. In the case of the current secular bull market, it occurred on April 10, 2013. Previous secular bull markets have spanned up to two decades, which would take us to 2033. That means we could very well be in Year 8 of 20 of a major market advance. Before you think I'm totally nuts, you need to realize that cyclical bear markets can occur during secular bull markets. We've already had two - one during Q4 2018 (trade war) and Q1 2020 (COVID-19 pandemic) - during the current secular bull market. I'm not at all suggesting that we'll go straight up for the next 12 years. I believe the secular bull market in the 1950s and 1960s saw multiple recessions and cyclical bear markets.

Based on history, however, I believe the next dozen years will be incredibly important in building wealth through equities as the subsequent secular bear market will most likely produce a shift into other asset classes and be much, much more challenging.

Our Commitment

As always, I'll try to objectively review the charts and continue to provide you with the latest technical information. History provides us many lessons, but history also continues to evolve. We have to evolve with it as best we can. Changing market conditions require us to change strategies as well from time to time.

While stock market guidance, research, and education are the three "pillars" of our service at EarningsBeats.com, I've always been most consumed by the educational aspect. I spent a lot of "stock market tuition" over the past 35-40 years. We all want to make a difference, hopefully positive, in helping others. I do my best to pass on everything I've learned over the years (and continue to learn) to help others avoid many of the mistakes I've made. I sincerely hope that something I've written or said has had a positive impact on you somewhere along the way.

I want to thank you for your support over the years. Many of our members have been with us since 2004, the year we started our business. It's really unbelievable to think that members have been with us through all of our business iterations. If you'd like to become part of our EarningsBeats.com community, here are two ways to do so:

Free EB Digest newsletter, published 3x per week (M-W-F, no credit card required)

Register with your name and email address HERE.

30-day FREE trial to our paid service (credit card required)

CLICK HERE to learn more and get your free trial started!

Our best deal ever - our Fall Special - is running through this Saturday, so this is a GREAT time to try us initially for FREE!

Whatever support you've given us in the past, I want to sincerely thank you! We're looking forward to a bright future ahead!

Happy Thanksgiving and Happy Trading!

Tom

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Economics

Coffee price prediction: where to next after hitting a 10-year high?

Coffee price has been on a months-long uptrend; hitting a 10-year high on Thursday. Tight supplies are the key driver of the commodity’s bull run. Unfavorable weather conditions and the ongoing shipping snarl-ups have contributed to the shortage. Based…

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Coffee price has been on a months-long uptrend; hitting a 10-year high on Thursday. Tight supplies are the key driver of the commodity’s bull run. Unfavorable weather conditions and the ongoing shipping snarl-ups have contributed to the shortage.

Based on the prevailing weather patterns in different coffee-growing regions, the bullish market may linger on in the coming weeks. The effects of the frost and drought that hit Brazil in the past year are still being felt. Besides, Minas Gerais, which is a key coffee-producing area in Northern Brazil, is experiencing heavy summer rains. The subsequent floods have heightened disease concerns. The La Nina phenomenon in Colombia and wet weather in Vietnam has further boosted coffee price.   

Coffee price outlook

Coffee C futures, which are the benchmark for the Arabica variety, have been on a months-long uptrend following a recovery in demand. In the past year, the coronavirus pandemic placed 1.50 at an evasive level. Interestingly, that has turned into a steady support zone since coffee price surged above it in mid-July.

Since then, it has been on an uptrend as shown via the trendline highlighted in red. Since the beginning of the year, the commodity has had its price surge by about 94.12%. On Thursday, it extended its previous gains to trade at the highest level since October 2011. Besides, since mid-September, it has been in the green for nine out of ten weeks.

In the US Intercontinental Exchange (ICE), coffee price ended the week at 2.42; down by 1%. On a daily chart, it is trading above the 25 and 50-day exponential moving averages. Based on both the fundamentals and technicals, I expect the commodity to remain in an uptrend in the coming week.

With an RSI of 73, it entered the overbought territory on Thursday after reaching a 10-year high. While it has since pulled back, it is still at the border of this zone with an RSI of 70. As such, it may start the coming week on a low before rebounding.

From this perspective, the support levels to look out for are 2.33 and the 25-day EMA at 2.20. On the upside, it will likely find some resistance along last week’s high of 2.48. Above that level, the bulls will be eyeing the psychological 2.50 and 2011’s high of 2.60. For as long as coffee price is above the resistance-turn-support zone of 2.00, the bulls will remain in control.

coffee price
coffee price

The post Coffee price prediction: where to next after hitting a 10-year high? appeared first on Invezz.

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Government

Bureaucrat’s False Promise: Take Two COVID Shots And We Will Reopen

Bureaucrat’s False Promise: Take Two COVID Shots And We Will Reopen

Authored by Mike Shedlock via MishTalk.com,

More lockdowns are underway in Europe. What happened to reopen promises?

Fury Over Lockdowns 

Global markets are reeling…

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Bureaucrat's False Promise: Take Two COVID Shots And We Will Reopen

Authored by Mike Shedlock via MishTalk.com,

More lockdowns are underway in Europe. What happened to reopen promises?

Fury Over Lockdowns 

Global markets are reeling in the wake of more lockdowns and threats of them.

The Economist (paywall) notes surge of deadly covid cases in Europe is met by popular fury over lockdowns.

The sight of 40,000 unvaccinated Austrians marching through their capital, Vienna, in recent days was troubling twice over. The tightly packed opponents of lockdown measures were at risk of spreading the coronavirus. They also threatened to stir up an already tense political situation. Karl Nehammer, Austria’s interior minister, warned that anti-vaxxers in the Alpine republic are growing more radicalised. He called the demonstration’s mood “incensed” and “aggressive”. Some protesters were extremely provocative, carrying placards likening Alexander Schallenberg, Austria’s new chancellor, to Josef Mengele, the sadistic physician at the Nazi concentration camp in Auschwitz.

The protesters were marching against Austria’s increasingly tough measures against anti-vaxxers. On November 22nd the government imposed a full lockdown once again, to last for at least ten days. That compels Austria’s 9m people to hunker down at home, leaving only for work, essential shopping and exercise. Austria is also the first Western democracy to make covid-19 vaccinations mandatory for all, starting on February 1st 2022. “For a long time—maybe too long—I and others assumed that it must be possible to convince people in Austria to get vaccinated voluntarily,” said Mr Schallenberg when he announced his “very difficult” decision.

Let Our Guard Down

The Washington Post (paywalled) reports ‘We let our guard down’: Frustrated Europe heads into second pandemic winter

Life was finally starting to feel normal. An online flier for an October party in this Belgian beach town cursed the coronavirus and invited people to dance and drink again, to “get your clacker back from the attic” and kick off Carnival season.

Hundreds attended that event and another Carnival party the next night. Most of the town is vaccinated, and people were required to show proof, or a recent negative test, to enter. But it wasn’t enough. Coronavirus cases spiked the week after. Officials worried about pressure on the local hospital. And soon the town found itself under semi-lockdown once more.

As Americans catch up with family and friends this holiday week, with some trepidation about enduring risk, Europe is facing another wave of the virus — and a gloomy and frustrating second pandemic winter.

New Heavily Mutated Covid Variant

CNBC reports Belgium Confirms Case of New, Heavily Mutated Covid Variant.

The emerging variant arrives in Europe amid an already devastating Covid surge linked to the delta strain. Europe saw more than 2.4 million new Covid cases over the week ended Nov. 21, an increase of 11% from the previous seven days, according to the WHO’s most recent epidemiological update.

Europe represented 67% of all Covid cases reported globally during that span, the WHO measured.

Belgium tightened restrictions this week to stop the spread of the virus, requiring people to work from home four days a week through the middle of December. Austria started its fourth lockdown of the pandemic on Monday, with a nationwide vaccine mandate scheduled to take effect on Feb. 1. Chancellor Alexander Schallenberg has said that the lockdown will last for at most 20 days.

New Lockdowns and Restrictions

  • Slovakia declared a two-week lockdown on Wednesday. People can leave home for a limited number of reasons, including buying groceries, going to work and to school, and getting vaccinated. And starting next week, all workers will have to show they’ve been vaccinated, recovered from the coronavirus or had a recent negative test.

  • Austria, imposed a lockdown that will last at least 10 days and up to 20. 

  • The Netherlands ordered bars and restaurants to close at 8 p.m.

  • Belgium has mandated that all but essential employees work from home four days a week. Belgium also reinstituted an indoor mask mandate this month.

  • Merkel pushed for a German lockdown as its death toll passed 100,000.

  • The U.K.  halted flights from six countries in the region, and European Union member states have collectively agree to pause travel to and from southern Africa.

  • Singapore banned flights from southern Africa

  • Japan is increasing border controls for travelers from the region.

  • Italy requires proof of vaccination or recovery for access to many parts of public life. Vaccination restrictions fcome into effect on December 6 and last until January 15.

Mess in Germany 

Eurointelligence comments on Germany's Federal Virus.

The massive outbreak in Covid-19 hospitalizations and fatalities in Germany raises disturbing questions about who is in charge. Having failed to achieve the right levels of vaccine procurement early on during the pandemic, the German authorities have repeated the same mistake. They did not procure the booster shots they needed. They have not set up a network of vaccination centres to deliver them rapidly.

As of this weekend, only 11.4% of the population has received booster shots. It is very difficult to get an appointment. Only doctor's surgeries are allowed to deliver them. The network has not been expanded to pharmacies. 

So why is this happening again? The answer is that the German healthcare system, well-funded as it is, is not set up for a pandemic, or indeed for public health emergencies in general. This is a publicly-funded, but privately run, healthcare system. The states are in charge of the local healthcare administrations and hospitals. Health insurance is a matter for the federal government, but states supervise the health insurance companies. What can possibly go wrong?

Message From German Stats

In Germany, over 45% of people hospitalized for Covid-19 are fully vaccinated.

That last stat sounds more shocking than it really is. Germany is 68% fully vaccinated. Thus 55% of the hospitalizations cases come from 32% of the population.

Only 11% of Germany received a booster. Given vaccinations wear off, the proper take away is get a booster, not flout the stats. 

Vaccine Mandate US

In the US, the Biden administration imposed a vaccine mandate vis OSHA on companies with more than 100 employees.

On November 15, I noted Appeals Court Blocks Biden's Vaccine Mandate in a Blistering Rebuke

The rebuke was a huge attack on the competence of Biden's mandate. My position, upfront was the mandate was unconstitutional. 

Given multiple attacks on the mandate, jurisdiction, the case moved from the 5th Circuit to the 6th Circuit, where Biden doubled down. 

On November 23, I commented Biden Doubles Down on Vaccine Mandate With Another Circuit Court

The justice department files an emergency motion with the 6th circuit court arguing the 5th circuit's postponement of the OSHA vaccine mandate was unjustified

I strongly suspect the 6th Circuit will reaffirm the previous ruling.

Meanwhile, protests or not, mutations go on and on. 

What Covid Lockdowns and Disruptions in Europe Signal to the U.S.

False Promise

"Take two shots and we will reopen society. That turned out to be a false promise."

It's been one false promise after another, by Dr. Fauci, by Trump, by Biden, by Merkel, globally everywhere.

Trust is essentially gone and rising protests are proof.

*  *  *

Like these reports? If so, please Subscribe to MishTalk Email Alerts.

Tyler Durden Sat, 11/27/2021 - 13:45

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Economics

How Did Friday’s Selling Compare To March 2020 Selling? My Takeaways

News that a new COVID-19 variant has surfaced in South Africa spooked global equity markets on Friday. Was it an overreaction and an opportunity to buy some of your favorite stocks cheaper? Or is the start of a much deeper, panic-driven selloff. Unless…

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News that a new COVID-19 variant has surfaced in South Africa spooked global equity markets on Friday. Was it an overreaction and an opportunity to buy some of your favorite stocks cheaper? Or is the start of a much deeper, panic-driven selloff. Unless you're a scientist with inside knowledge, I don't think it's possible to know. There are so many questions right now that haven't been adequately answered and may not be answered for several days or weeks. Among those questions would be (1) rate of transmissibility, (2) efficacy of current vaccines against the new variant, (3) the new variant's infection fatality rate (IFR), and so forth. Without this information, it's impossible to try to determine what steps countries around the globe may need to take.

When the delta variant was first studied, it was found to be much more contagious and now the World Health Organization (WHO) estimates that 99% of the world's COVID cases are the delta variant. The worst case obviously would be that this new variant is even more contagious and that vaccines are proven to be ineffective protecting against it. But if global markets continue to panic and selloff as they did on Friday and the new variant poses less risk than first thought, clearly a major global rally could follow.

So what do we do?

Well, rather than search media outlets looking for financial advice, which proved to be absolutely worthless during the height of the 2020 pandemic (remember the Great Depression 2.0 forecasts?), I'd suggest we focus instead on what Wall Street is doing with their money. What sectors and industries are performing poorly on a relative basis (suggesting more exposure to an extended selloff)? Also, which sectors and industries actually performed better during the day on Friday, which would impact their respective AD lines. If you recall, the AD lines were, in my opinion, the best technical indicator throughout 2020 as they helped us identify which areas were being accumulated vs. distributed during the pandemic.

So let's take that approach again as we analyze Friday's action.

It's Deja Vu All Over Again

When I looked at major index and sector performance on Friday, the ranking was nearly identical to the period from February 19, 2020 (market top before panicked selling began) through March 23, 2020 (subsequent low on the S&P 500).

Energy (XLE), financials (XLF), industrials (XLI), and real estate (XLRE) were the bottom 4 sectors during the panicked selloff in 2020 and those 4 were again among the weakest on Friday. Meanwhile, consumer staples (XLP) and health care (XLV) were first and second (though reversed) both during the initial crisis in 2020 and again on Friday.

The order of performance on our major indices were almost identical.

Based on this quick analysis, if we continue to see a COVID-related selloff, I'd most definitely be expecting those bottom groups to continue to lead the selloff. If you have significant exposure in Friday's weakest sectors and industry groups, then I believe your risk is higher as we move into next week.

The Outliers

Not all industry groups conformed with last year's performance ranking. Those that remained relatively strong on Friday (key word here is relative as it wasn't a good day for many groups) and were also relatively strong back in March 2020 included the following industry groups:

  • Gold mining ($DJUSPM): #1 in March 2020 and #2 on Friday, or 1 and 2 (out of 104 industry groups)
  • Mining ($DJUSMG): 3 and 3
  • Mobile telecom ($DJUSWC): 4 and 6
  • Biotechnology ($DJUSBT): 8 and 1
  • Toys ($DJUSTY): 9 and 4

These were the only 5 groups that were in the Top 10 in March 2020 and on Friday.

Then there's the flip side - those industry groups that were weak in both periods:

  • Recreational Services ($DJUSRQ): 103 and 104
  • Oil equipment & services ($DJUSOI): 101 and 96
  • Coal ($DWCCOA): 100 and 98
  • Airlines ($DJUSAR): 99 and 103
  • Aerospace ($DJUSAS): 97 and 97

These were the industries that were in the Bottom 10 in both periods. I'd definitely avoid all of these groups in the very near-term until we get more clarity. It may mean you miss some upside, but steering clear will eliminate the significant risk that exists if this new COVID variant proves to be more problematic than the delta variant.

What About Accumulation/Distribution (AD Lines)?

We saw very weak futures overnight on Thursday and our major indices gapped down significantly. But where did Wall Street see opportunity to accumulate? Well, one way to gauge that is to compare Friday's closing price to its opening price. It makes common sense that a higher close means there were more buyers than sellers throughout the day. The opposite is true if the close was below the open.

I'll be honest. I wasn't expecting the results that we actually saw. For instance, energy (XLE) was clearly the worst performing sector on Friday, but it rallied strongly in the afternoon and its AD line neared a 3-month high:

I have to say that energy behaved quite well during the day on Friday after a rather inauspicious start. The hammer at support, along with that rising AD line provides hope for a group that I said to avoid earlier in this article. We can't ignore that volume because it came on extremely heavy volume. Nearly 45 million shares changed hands, which wasn't the biggest volume day of the year. But we need to keep one thing in mind. The market closed early at 1pm ET on Friday. Had we been open a full day I believe the XLE may have traded its heaviest volume of the year. That, combined with the huge reversal, could signal a major bottom here. We'll have more days ahead that will provide us more clues, but based on my AD analysis, I'd turn bullish the group if I knew we weren't going to wake up to more negative COVID news on Monday morning. But that's the world we live in right now and the uncertainty is almost paralyzing.

There was one industry group on Friday that showed even greater signs of accumulation, gaining roughly 3.5% in the final 90 minutes of trading. The S&P 500 was flat during this same 90-minute period and the NASDAQ actually lost some ground, making this industry group's recovery stand out even more. I'm featuring the group and one of its component stocks to keep an eye on in my FREE EB Digest newsletter on Monday morning. If you're not already a free EB Digest subscriber, you can subscribe HERE by providing us your name and email address. There's no credit card required and you may unsubscribe at any time.

Happy trading!

Tom


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