Running On Empty: 1 Sector That Looks Bearish
Share
ETF Watchlist
CPI data was released Tuesday morning, showing the inflation rate for February was 6%, below estimates of 6.1%. This new was well received by the market as stocks began Tuesday’s session by pushing higher off the open.
Although this may not mean there is going to be more selloffs in the short term, I still don’t believe the market is out of the woods yet. Since this is a news-driven market, stay vigilant, disciplined, and patient.
This One Industry Will Grow More Than 10x In The Next Eight Years
Grand View Research predicts the global artificial intelligence market will reach $1.8 trillion by 2030 — a 1,312% increase in the next eight years. Smart investors are already lining up to position themselves for what’s coming — and I want to make sure you’re ready. Join me for a live webinar on the top AI investments to make now — and an inside look at the future of investing, powered by AI. Click here to sign up for this FREE event.
SPDR S&P Oil & Gas Exploration & Production ETF (XOP)
If we were to add a trade to our watch today it would come from the energy sector, as the price of oil appears to be weakening and a break of 72.5 could prompt us to initiate a bearish play on the sector.
We would look to the XOP to ride this decline further. With a rally in the market, at least for now, energy names may begin to suffer as money flows into other areas of the market. Keep this chart handy as you go through your trade watchlist.
Watch my video breakdown below!
My Smart Trades options trading service is where I teach my students how I trade options on some of the largest ETFs on the exchange. As you learn, you’ll get exclusive access to all my trades with notifications any time one is put on. Now, you can learn how many use this high-income skill to achieve financial freedom. Join today!
I look forward to trading with you, but until then, as always…
