The market recovered and continued to take shape
The market recovered and continued to take shape following Wednesday’s gap down. I’m still tracking these segments and group setups and have even added to my focus list.
$The Magnificent Seven ETF(MAGS)$ $Industrial Select Sector SPDR Fund(XLI)$ $Utilities Select Sector SPDR Fund(XLU)$ $Health Care Select Sector SPDR Fund(XLV)$ $iShares U.S. Real Estate ETF(IYR)$ $iShares U.S. Transportation ETF(IYT)$ $Schwab U.S. REIT ETF(SCHH)$ $First Trust Dow Jones Internet Index Fund(FDN)$ $Schwab U.S. Large-Cap Value ETF(SCHV)$ $Schwab U.S. Large-Cap Growth ETF(SCHG)$ $iShares Russell 1000 Growth ETF(IWF)$ $SPDR S&P Metals & Mining ETF(XME)$ $iShares Expanded Tech-Software Sector ETF(IGV)$ $Amplify Transformational Data Sharing ETF(BLOK)$ $iShares U.S. Aerospace & Defense ETF(ITA)$, possibly BTC via $iShares Bitcoin Trust(IBIT)$ too
I’m highly likely to start scaling into positions later in the session and into next week—if price action can break through key levels in the highlighted groups, even if reaction to pre-market MoM retail sales data points to a gap down at open.
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Most of the tickers highlighted are quite straight forward on the naked eye except for BTC
the volatility and range contraction within a bullish descending wedge pattern brings $iShares Bitcoin Trust(IBIT)$ into my focus list
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