Mar. 31 at 6:56 PM
$EQT is -1.89% for the day. They chirp me when they are wrong and/or unwilling to protect their profits and re-enter when the coast is clear. One's ego is the enemy in investing and trading alike.
Is the war actually ending or is tomorrow just going to be the inverse of today is the question.
$SPX $SPY got within spitting distance of the key breakdown level I've posted about here and is now still below that level despite today's bounce.
A countertrend bounce back to a break point is a classic market move, so one day is not going to do the job. That said, read my posts from yesterday in which I wrote about a possible turn in the 10 Year Yield. The hint was TNX itself as well as the oil signal I saw in the outsized EQT move...which
Could a bottom form near here? Yes. Has it? No, not yet...
$XLE and
$EQT as a component were both down yesterday.
$EQT was a sell signal sort of move, but
$XLE was not down in a signaling way, as its two biggest holdings were barely budging to up for the day.
