Bearish AB=CD on the SPDR Select Industrial Sector ETF

Jan 13, 2023

There is a Logscale AB=CD on the Industrials with Bearish RSI Divergence and the 1.414 PCZ of the Logscale AB=CD aligns with the 1.618 on the Linear Scale. I think it would be fitting to see this go down as i have recently become Bearish on Defesne Stocks such as RTX and HON, and have also become bearish on Airline Stocks such as BA and those stocks all happen to be in the top 10 holdings of this ETF so if they go down this ETF will go down. The standard Target for an ABCD like this is back to the C level which is around $47 in this case but for the time being i will target $80 via buying of the $90 Puts that are several weeks out.