EPISODE 5/11: US INDUSTRIALS-BULLISH CHANNEL + STRUCTURAL XLI TA

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Episode 5/11: US (SPX) Sectors Technical Analysis Series - 17th of July 2019

Brief Explanation of the chart:

Squares represent past and future structural supports. Since 2009, the bulls have used Monthly MA 50(Weekly 200) support, labelled as the purple line.

The latest bullish channel leading to wave 5 can have 3 potential targets: 85$, 94.5$ and least likely 100$.

This is just a brief "free" and very detailed analysis. Perhaps in the future I might form a premium group, to whose members I will provide all the details of my research.

>>I do not share my ideas for the likes or the views. This channel is only dedicated to well informed research and other noteworthy and interesting market stories.>>
However, if you'd like to support me and learn more in the greatest of details, every thumbs up or follow is greatly appreciated!

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Check my Previous episodes on the US Sectors:

EPISODE 4: Health Care(XLV)

EPISODE 4/11: US HEALTH CARE XLV SECTOR-TA(TREND ANALYSIS) 2019'

EPISODE 3: TECH(XLK)

EPISODE 3/11: US TECH SECTOR-ELLIOTT WAVES+PARABOLIC MOVEMENT TA

Full Disclosure: This is just an opinion, you decide what to do with your own money. For any further references- contact me.

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Monthly RSI. Shows that bulls are weakening. 40-50 RSI support for the long term current bullish channel.

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Quarterly XLI. Blue lines are EMA 14 and EMA 21(greenish/blue). So far they have been the momentum supports.
The long term support in case a recession occurs would be the 50 Quarterly MA(Purple line).

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