| | Oil Slips Lower as Electric Utilities Power Up
By Blake Young
I'm putting the finishing touches on tonight's live retirement presentation, but there are moves underway in the markets we need to talk about right now… | The big indexes are juuust slightly off their recent all-time highs, but of course, not all stocks are doing equally well. | My attention is on the energy sector right now, as tracked by the Energy Select Sector SPDR ETF, XLE. It's down close to 1.5% over the five days, and the zoomed-in chart I'll share with you in a moment, you'll see we actually broke through a multi-month low. It hardly crashed through, and it soon recovered, but it did break support. We'll look at the likelihood of a bearish trend taking hold here. | Crude oil itself is experiencing lower highs and lower lows. It also broke through support but when it bounced back, it failed to punch through resistance. | As you might know, utilities stocks tend to work in inverse correlation to energy. As energy costs drop, their profit margins widen. The sector-tracking Utilities Select Sector SPDR, XLU, is up over the past five sessions - this is significant, and we'll talk about it. | So let's take a look at the tickers in play in tonight's video… | | TheoTrade Daily Chatroom Schedule for Friday, June 14, 2024
8:45 AM to 9:20 AM: Blake Young and Brandon Chapman's TheoTrade Live
9:20 AM to 10:30 AM: I'll be getting us ready for the opening bell
10:30 AM to 11:30 AM: Professor Jeff Bierman shows you… The Way
11:30 AM to 12:30 PM: Blake targets more earnings trades
12:30 PM to 1:15 PM: Gianni Di Poce is watching stocks and a lot more
1:15 PM to 2:00 PM: Brandon tracks big money flow
2:00 PM to 3:00 PM: Tony Rago finds targets in NQ charts
3:00 PM to 4:00 PM: Corey Rosenbloom will make range and trend plays
Blake Says Gold Is in Play TONIGHT
Blake Young dropped this in our group chat recently: "Gold is set for the next big move; we could be getting ready to take positions in the Russell 2000, bonds, the greenback and probably real estate, too."Tonight he's showing everyone in the room how they can use these to build serious retirement wealth. He's going live in about 90 minutes in this room here - click to RSVP for the 7 PM event.
Gianni Released Two New Picks in Chat Today
This is an interesting time to be picking stocks, according to our newest expert. Here's what he had to say about two of them: "Buy NRIX on a close above $17.48 with a stop-loss on a close below $16.15. Buy SMCI at market with a stop-loss on a close below $779.40." Even near all-time highs there are deals to be had…
Asset Managers Are Only Going to Take More
This chart doesn't need much explaining - the Street's money guys are coming after more of your cash. Learn how to do something about it… | | We'll talk again soon, | | Don Kaufman
Co-Founder, TheoTrade |
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