Dan Marchese

Does Tech dig in here relative to Energy?

Who needs the Nasdaq? Here is where the outperformance really lives.

@1leone Not necessarily anticipating — just pointing out what's happening currently. This could fully rip right through support tomorrow, I'm open to anything.

@DChartLife Anticipating market action based on past patterns, whilst useful, only serves to create bias

We have people freaking out, meanwhile Consumer Discretionary on an equal weight basis is simply retesting support again. The way I learned it is that prior resistance tends to turn into support.

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@alphacharts365 yeah man just to get it over with hate when it drags lol

@DChartLife I think you are right Dan.... closer to the end, would love a flush to finish it off

In the short term, we've just entered the area where they buy them. Probably closer to the end than the beginning.

Clean break with no recovery from the April lows VWAP for Financials. Bulls want to see this group stop falling — downside risk toward 42.

Back to Tech?

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Well, that can't be good—failed breakout for U.S. banks.

The U.S. Dollar is trading right back into the key 100–101 level. The market has repeatedly shown how crucial this level is. Price is also tagging the VWAP anchored from last year’s highs where the dollar topped out and rolled over. If this confluence holds, selling pressure could subside, at least short term.

@hstaater I believe we’re talking about 2 different things

When you shop for insurance, do you normally like to pay the highest price?

I wouldn't get too bearish if $SPY is still above the 650–655 range. VWAP from the April lows is also approaching that key zone.

10+ year base — doesn't get much cleaner than this.