Blog traffic has increased over 100% of late and I wanted to take a moment and welcome all of the new viewers to the blog. I remain honored and humbled that you spend part of your busy life looking at my materials. Thanks to all of you for your viewership, awesome emails and comments…they are greatly appreciated.
As a reminder…I am NOT a “Bull nor a Bear!” I am just attempting to share research that can help investors “enlarge their portfolios, regardless of market direction!” We live in awesome times, per the opportunities have never been bigger!!!
If you would like to know more about my strategy/goals, please go to this strategy link.
Shared the chart below on 8/31, reflecting that Basic Materials ETF (IYM) has hitting a key resistance hurdle, at its 50% Fibonacci resistance level. (See post here) The importance of this chart….The outcome of this resistance hurdle was going to tell all of us a ton, per the global economy running out of gas!
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Below is an update on the last 3 weeks price action of Basic Materials (IYM)…
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Not only did this hurdle of resistance create an opportunity to harvest if long, it created a massive opportunity to score on defense for aggressive investors, as well as sending a macro message to all investors! SMN has done well of late and this pattern suggests it should continue to do so!
