XLE, XLF, XLK, XLV updates 04/04

XLE: Personally I don’t like the looks of it as a possible bear-flag is forming, which can target as low as $54. Only a break and close above $69 (the flags upper line) will have me change my tune and suggest major-a bottomed.



XLF: Still counts best as completing minor-3 of intermediate-v of major-3 of Cycle-3/C. I expect $26 to hold. Those who like to front run a bit could go long here, with a stop just below $26.



XLK: Counts best as intermediate-iv of major-5 still underway. A break above $67.50 will have me change my tune and switch to intermediate-v underway to finish primary III at around $77.50ish. Thus there’s then still some nice upside potential left. A break below $62.50 will target $57.50.



XLV: Adjusted the count to a minor-3 and 4 wave instead of minute-iii and iv, as it would fit much better with where many other stocks and sectors are. As long as $78 holds, we should see $100+ for minor-5 to complete major-3 of Primary I. Hence, one could go long wit a stop at $75.