Week 49 Mid-Week Trending Updates
Three trading days into the week, here is how the trending heat map looks like for the major markets.
A lot more amber than 2 days back. The S&P 500 has had losses 5 days in a row, so this is not surprising. The risk seems to be on the downside at this point.
Reviewing the Sectors trending.
Similar to the major markets, the Sectors have a lot of amber color in their trending heat map. Interesting that Healthcare XLV turned perfectly bullish while the Banks KBE turned perfectly bearish.
I am currently short the Banks KBE and Industrials XLI using puts. I am long Biotech XBI, Gold Miners GDXU, Silver SLV and China Internet KWEB using calls except for GDXU which is the 3x leverage of the GDX.