Hi Guys, at a technical point of view I have posted the current weekly chart of SXY, guess what, we have been here before as per the chart, dont be suprised or shocked, its emotions driving the market.
SXY has been trading in a 20 cent channel for just under 12 months, I have no idea why the sell down given the fundamentals of the stock ??
All I can say is as per the chart this is ground zero, support is very strong, extremly bad news or another 911 may push this through support but what we have regarding sxy I cant see this happening.
As the history of the chart shows, its the best time to stock up with a stop just below, do your own research, I know what I will do !
I have a strong buy at this time
SXY Price at posting:
62.5¢ Sentiment: ST Buy Disclosure: Held
