10 days or so ago I gave my daily video subscribers a list of several stocks to be long, some of which were also shared here. Among the big winners that ran up substantially were Meta, AMD, SMH, GOOG, AMZN. The only misfit has been the oil stocks CVX and XOM. XOM has earnings Friday. I am going to exit Thursday for a small loss.  I also warned not to discount a “melt up” post earnings, if said earnings turned out to be well received.

Thus far though earnings have been a disappointment. So the market I think is now going to struggle. One sector is always a bit ahead of others and in this case I believe that sector is the home builders as it leads the downside. The attached chart is shown with my X RAY strategy… do note that only about half the color changes from red to blue or vice versa mean anything. XRAY is a simple but multi step process to get a signal. However currently we are on a sell from a few days ago, and I quite like this sector to move lower.  

Thanks,

Joe