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Friday Technical Video, charts of interest- REITS breaking out

Friday Technical Video

https://stme.in/IQdIDES5wP

 

Key points headed into weekend

 

S&P likely bullish up into 2860-5 into early next week based on yesterday and today

VNQ-  REITS breaking out and generally a very defensive tone all week-  BUY UTES, REITS.  Avoid TECHNOLOGY

Dollar breaking down-  UNDER 96.31 is negative

EURUSD expect to move higher up to 1.1509-1.155

Gold, Crude stabilizing and trying to bounce

VIX breaking 13 into weekend is a temporary negative for implied volatlity. Expect VIX to move down to 11.50-12 then likely turns back up mid-next week

 

 

S&P made 4 straight hours of closing well up off its lows on hourly charts-   of course, this wasn’t important today until S&P got above 2847

This helped prices extend

 

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VNQ-  the REIT ETF.  Breaking out to highs for the year today

The LONGS listed in todays report- VNQ,  VER, VTR, WELL, are all REIT PLAYS.  And extending.

Many more participating today now that prices have broken out-  and should continue to be attractive

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VIX-  A negative break of 13 in what many would agree is an hourly Head and Shoulders pattern from earlier this week

Pullback to near 12 is likely-  This could be an area to buy implied volatlity mid-next week

 

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LINKS

 

Link to Thursday’s Technical Webinar- discussing SPX, NDX, XLF, XLI, XLK, Europe

https://stme.in/L3MxzJPlkq

 

My Real Vision Interview on markets and MHK being a housing related Short

https://www.realvision.com/snapshot-home-wrecker?utm_source=Mark%20Newton&utm_medium=Social&utm_campaign=43328_CONREF_JS_SMT_RV_W1_MNewton

 

My Bloomberg interview from Wednesday- talking SPX and no evidence of contagion from EM stress

https://www.bloomberg.com/news/videos/2018-08-15/what-the-recent-risk-off-sentiment-means-for-market-technicals-video

 

 

Have a Great weekend all