11/29/2020 Stocks up this week as predicted – still looking like more upside in the near term. Discussion of SPY, XLE, and XLF.

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Stocks were up this week on low volume due to the market being open only 3.5 days this week. I suspect we continue higher since we are holding the breakout level without any signs of a pullback.

SPY weekly chart below:

Another reason why I think markets are bound to go higher is because the weaker sectors within the SPY – XLE and XLF (Energy and Financials respectively) have been outperforming.

XLE and XLF weekly charts below:

Let’s see if we get any sort of pullback this week. I think it’s still more likely we go up.

Published by bigfry

Hi, I’m Nathan. I graduated from Boston University in May of 2020. I majored in Finance and minored in Piano Performance. I’ve always found the financial markets fascinating so I decided to start this blog to share my experiences. Outside of stock trading/investing, I enjoy teaching and playing piano, fishing, watching anime, and teaching/playing "Go," an ancient Chinese strategic board game.

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