34th day of $QQQ short term up-trend; GLB: $XLU = lower rates?

GMI6/6
GMI-27/8
T210852%

It looks like the utilities ETF had a cup with handle break-out (GLB) to all time highs. This suggests lower interest rates to come? This is a weekly chart.

 

2 thoughts on “34th day of $QQQ short term up-trend; GLB: $XLU = lower rates?

  1. I’m closely following your converting from daily to weekly charts. Like you, I am also about to retire and concerned about maximizing my retirement money, yet keeping it safe from loss.

    I held XLU for the past couple of weeks and made a slight bit of money, around one per cent – however, it was stopped out yesterday. I set the stop point using the Guppy CBL (Count Back Lines) method on Daily Charts. It’s interesting comparing this to your use of Weekly Charts showing a GLB.

    I’m trading using money in some smaller IRAs in preparation for getting the money out of my much larger 401K in the next year or two as I retire. I’m observing your use of Weekly versus Daily charts with a great bit of interest.

    Thanks for all the info you provide – it was via Wishing Wealth that I found out about Daryl Guppy and his trading methods using GMMA and CBL.

    Keep up the good work!!!!!

    brew

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