4/13/20 MARKET CLOSE Update: ETF 'X' INDEXES

Daily Coverage of the SPDR X ETFs

XLV: Chart with Detailed Levels

Market Structure: Still overall Bearish

Momentum: Bullish (but VERY close to exhaustion)

Internals: Turned Over

Block Volume: Neutral

GEX: Neutral


XLV Summary: Approaching the market structure repair levels and major resistance. Running out of momentum and really neutral GEX. Internals turning over. Monitor it the next couple of days. Price is always behind the guts.

XLU: Chart with Detailed Levels

Market Structure: Still overall Bearish

Momentum: Bullish (with room to go)

Internals: Turning Over

Block Volume: BTD crowd today?

GEX: Negative


XLU Summary: This got slapped today along with Banks. Interesting...price front running something? I am short from high mark on Thursday and am holding.

XBI: Chart with Detailed Levels

Market Structure: Still overall Bearish

Momentum: Bullish

Internals: Turning Over

Block Volume: Negative

GEX: Negative


XBI Summary: This was not bid today with no follow through to the upside. Internals turning over and block volume weak. Momentum still bullish so can leak higher but that is probably going to be distributed into (if it happens). Lots of overhead resistance above.

XHB: Chart with Detailed Levels

Market Structure: Still overall Bearish

Momentum: Bullish (with some room to go)

Internals: Negative

Block Volume: HEAVY Negative

GEX: Negative


XHB Summary: Wack a mole today in real estate. Could still oscillate around here all the way up to $37 but I think this is a short in here. This looks terrible along with banks and how are they going to fix real estate here?

XME: Chart with Detailed Levels

Market Structure: Still overall Bearish

Momentum: Bullish

Internals: Turning Over

Block Volume: Neutral

GEX: Neutral


XME Summary: This was flat today but internals turning over...price may keep leaking up to $20 but this is a short candidate once this move terminates. There is no demand for anything from any producer in this index.



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