What TheChartGuys said in this video:
- SPYbearishshort-termThe host sees his first red flag in the S&P 500 via SPY, his largest IRA holding, with a confirmed daily downtrend; he will not fully hedge unless SPY loses weekly EMA 12, at which point he would hedge up and be more open to bear trades.Source
- XLVbullishHealthcare is clearly the hedging sector to be in, with XLV posting one of its top five highest closes ever, ABBV at a new all-time high, and MRK and UNH trying to set monthly higher lows, making the sector stand out for strength.Source
- ABBVbullishABBV hit a new all-time high today and remains strong, reflecting relative strength within the healthcare sector.Source
- MRKneutralMRK is trying to put in a monthly higher low; the host only notes the attempt and does not state a clear directional view.Source
- UNHneutralUNH is also trying to set a monthly higher low; the host only describes the pattern without a stated direction.Source
- XLFneutralshort-termXLF has been fine, gapping down on CPI but closing at the high and confirming a daily higher low; it must hold that daily higher low to keep the bounce going, so the financial sector needs to continue participating.Source
- XLIneutralXLI is at fresh lows while XHB and IYT remain sideways; these sectors need to participate for the breadth bounce to continue.Source
- NVDAneutralmid-termNVDA shows a potential long-term rising wedge (bearish) but remains in a weekly uptrend; as long as price holds above 208.93 it is a weekly higher low, and the host explicitly says he is not bullish memory and semis.Source