Money Control Place
  • Politics
  • Business
  • Stocks
  • Investing
  • Politics
  • Business
  • Stocks
  • Investing

Money Control Place

Stocks

Looking Outside the Stock Market for Opportunities

by October 26, 2023
October 26, 2023
Looking Outside the Stock Market for Opportunities

Correlations rise during bear markets. This means more stocks participate in broad market declines than broad market advances. In other words, the odds are stacked against us when picking stocks in bear markets. Traders are better off looking outside of the stock market for opportunities.

The Perfchart below shows the performance for 10 asset-based ETFs over the last forty days. Seven of the ten are down with Silver, REITs, the S&P 500 SPDR and the 20+ Yr Treasury Bond ETF leading the way lower. Three stand out. The DB Energy ETF (DBE), the Gold SPDR (GLD) and the Dollar Bullish ETF (UUP) are all higher.

Chart Trader featured weekly charts for oil and gold in Thursday’s report and video. Let’s take a look at the US Oil Fund (USO), which is forming a short-term bullish continuation pattern. USO broke out with a big advance from July to September. The Trend Composite turned positive on July 24th and confirmed this trend reversal.  

Short-term, the ETF became overbought in late September and fell back in early October. This decline, while sharp, held above the breakout zone so the breakout remained intact. USO went on to consolidate with a pennant, which is a short-term bullish continuation pattern. A breakout would signal a continuation higher and target a move to the upper 90s.

Today at Chart Trader:

Measured Move Target for SPYFundamentals Show A Perfect StormQQQ Reverses UpswingRussell 2000 ETF Remains the WeakestGold Goes for Another BreakoutUS Oil Fund Consolidates after BreakoutOil & Gas Equipment & Services ETF Hits Reversal ZoneNatural Gas Futures versus the ETNNike Hits Resistance Zone

Reports and videos are published every Tuesday and Thursday. Click here for immediate access.    

//////////////////////////////////////////////////

0
FacebookTwitterGoogle +Pinterest
previous post
Hunter Biden missing from state dinner guest list after backlash for attending others amid legal issues
next post
Many Reasons to Love and Hate AMZN Stock

Related Posts

Week Ahead: VIX At A New Multi Year...

July 29, 2023

A Glimpse at the Next 6 Months in...

July 1, 2023

MEM TV: NVIDA is Setting Up To SURGE

May 4, 2024

Technical Indicator Showdown: MACD vs. PPO vs. PMO

May 25, 2024

How to Identify Great Trade Opportunities Using the...

September 7, 2023

NVDA, TSMC, and Broadcom: Top Semiconductor Plays as...

January 24, 2025

Gain GREATER CLARITY on The Market’s Latest Moves...

October 14, 2023

Why the NAAIM Exposure Index Matters to Your...

February 8, 2024

Year Yield Spike Doesn’t Mean Stock Market Will...

October 4, 2023

Consumer Spending Remains Strong — Here are 3...

October 28, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • S&P 500 Breaking Out Again: What This Means for Your Portfolio

    • Critical Mineral Antimony Stocks – Reshaping the Future of Defense

    • Cardiol Therapeutics Completes US$11.4 Million Financing and Extends Cash Runway into Q3 2027

    • Cartier Cuts 11.0 g/t Au over 9.0 m including 30.2 g/t Au over 2.5 at Contact ; Continues to Expand High-Grade Gold North Contact Zone near Surface

    • United States Antimony Makes Takeover Bid for Larvotto Resources

    • Customers sue sneaker company On over shoes that cause ‘noisy and embarrassing squeak’

    Categories

    • Business (1,401)
    • Investing (3,052)
    • Politics (3,699)
    • Stocks (1,826)
    • Uncategorized (20)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: MoneyControlPlace.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 moneycontrolplace.com | All Rights Reserved