XLE, XLF, XLI, XLK, XLU, XLV, XLY updates 03/14

XLE: looks like price is carving out a bottom here for a possible major-a wave.  If so, then the b-wave should target around $72.50 +/-. A drop below last months low ($64.25ish) from here will mean major-a is extending. Hence, if you are inclined to go long, you can place your stop at $64.

XLE

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XLF: Not too much to add to the recent update but counts best as having complete minor-4 of intermediate-v of major-3 of C3/C. Ideal target for major-3 is the 261.80% extension at $32.10 before major-4 takes price down to ideally the 200% extension at $26.50 and then major 5 ideally to the 300% extension at $35.35

XLF

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XLI: Possible a triangle intermediate-iv wave developing which should resolve to the upside for intermediate-v to complete major-5 of Primary III targeting ideally $87.50. Longs should keep stop at just below the January lows.

XLI

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XLK: Counts best as having completed intermediate-iv, now in v, of major-5 of Primary III of Cycle-3. Ideal target for III is $72.50-$75.00. After that Primary IV should take hold and take price to the mid-50s before Primary V runs it to possible low to mid-80s to complete Cycle-3.

XLK

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XLU: Same as the last update in that we still would like to see one more wave up to make it to 13 so we get an impulse up. Off all ETFs presented here this is my least favorite. So much for that energy/electricity revolution. Having worked 10+ years in the field I can tell you why: no real inovation or break through technologies. Solar is now where it was 20yrs ago in efficiency. Similar to wind, energy storage etc: very hard to scale to meet 24/7 electricity demands.

XLU

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XLV: Seems like this ETF has still most upside potential left as it should be completing minute-iv of minor-3 of intermediate-v of major-3 of Primary-I (possible all 1 degree higher). Break over $92 will confirm minute-v, break below $80 will confirm minute-iv isn’t done yet. Longs can set stops accordingly and look for $100+ once $92 breaks as that’s the symmetry target off the $80 low.

XLV

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XLY: Similar to most other ETFs presented here, in that it is most likely in a final wave up before a larger correction sets in. Break over the December high targets $112+ based on a simple 5=1 relationship, possible as high as $116. Long stops can be place at $100. Possibility of a triangle 4th wave is still there, but too little data yet to know for sure. Regardless, price action suggests strongly we should see higher prices eventually.

XLY