This is how Recognia’s system drew the trendline ( I won’t copy their stuff in case it’s copyright) - to me it broke down earlier in the week on this basis. But I just don’t think it’s particularly valid. SXY is probably ranging between 33.5 and 36.5c for now IMO, but their is certainly a danger of a gap filling collapse on technicals (why, I really can’t imagine, but best to acknowledge the possibility) and then it would likely find support at 25.5c. 22-24c very fanciful IMO. You never know, but LT, SXY is going up, so if there is any kind of unwarranted pullback, I’ll certainly be adding:
SXY Price at posting:
34.0¢ Sentiment: Hold Disclosure: Held
