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This is a journal to follow the Stock Market: SPY. In this journal, I am going to use the theory that the banks and the semiconductors (includes big tech) lead the direction of the market. I am going to chart XLF, the financials ETF and SMH, the semiconductors ETF. I will also include: XLK, big tech. I may look at utilities (income): XLU. Energy: XLE. The main focus is swing trading and trend trading.
This is the chart I will be using (until I improve it) to analyze the market. The daily stochastics is the swing, the weekly stochastics is the trend.
So, if the banks and semiconductors can't hold their recent lows, the SPY can trend down to 125.