{"id":217111,"date":"2025-01-08T08:54:12","date_gmt":"2025-01-08T13:54:12","guid":{"rendered":"https:\/\/ibkrcampus.com\/campus\/?p=217111"},"modified":"2025-01-09T08:42:53","modified_gmt":"2025-01-09T13:42:53","slug":"chart-advisor-looking-for-strength-in-weakness","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/chart-advisor-looking-for-strength-in-weakness\/","title":{"rendered":"Chart Advisor: Looking For Strength in Weakness"},"content":{"rendered":"\n<p>By<strong>\u00a0<a href=\"https:\/\/links.investopedia.com\/u\/click?_t=36ba8fa8372241d58b3bfc06997a4332&amp;_m=b14af128dd9743cabca4d1a67bf7d43d&amp;_e=GeLXB3wG6so6icCOfD1J0hGqlv-KC-VIX8uec9CWMWAU8BQqk8hkIPj8DkNxNuzgQ0xr3eUT3EZlSWKvQ6_0zB53uzDjxzvbqGAV0A9kEQkir8Wpv4NzcmR73K00oA4HfQm9KvNmt1iuhYRlr-8rvL8K3yEPJNF_uEiAOX8sSusWRJyW6emkljD9Vnmp9QzWMcvM_aqIwSy0ZyCluKkT0QSpD5LCZ6ux7M-GLsOBm4Hkxwvn4foNU9R_-Uen1sa4Wi8xbbuUI4Mv37OfbKyta1jdcISmESVxwXzL7KXmUhcQS65AQFfmZPvaNN37xyRuPPkHE-ft__LzOhIGWWz4Q0gy12BIOe54kxEGgCqvIP6ZAz-XZ1Uyn7oak2WNz0fIBDasZZptxuN0TkrEdOeJlm0BCe1wU6SjbOvgy7oZbz31pzx5vnYrxJQSogPp5CLf3qzPiq4ddOEvvFrUOxUIxX0-pcMV_IspvDBK2g_-oiI%3D\" target=\"_blank\" rel=\"noreferrer noopener\">Michael Nauss, CMT, CAIA, CDMS<\/a><\/strong><\/p>\n\n\n\n<p><strong>1\/ Tech Sell-off<\/strong><\/p>\n\n\n\n<p><strong>2\/ Sector Overview<\/strong><\/p>\n\n\n\n<p><strong>3\/ Oil Close to a Breakout<\/strong><\/p>\n\n\n\n<p><strong>4\/ Airlines Flying<\/strong><\/p>\n\n\n\n<p><em>Investopedia is partnering with CMT Association on this newsletter. \u00a0The contents of this newsletter are for informational and educational purposes only, however, and do not constitute investing advice. The guest authors, which may sell research to investors, and may trade or hold positions in securities mentioned herein do not represent the views of CMT Association or Investopedia. Please consult a financial advisor for investment recommendations and services.<\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-1\">1\/<\/h2>\n\n\n\n<p><strong>Tech Sell-off<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1100\" height=\"704\" data-src=\"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/01\/01081-1100x704.png\" alt=\"\" class=\"wp-image-217113 lazyload\" data-srcset=\"https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/01\/01081-1100x704.png 1100w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/01\/01081-700x448.png 700w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/01\/01081-300x192.png 300w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/01\/01081-768x492.png 768w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/01\/01081-1536x983.png 1536w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/01\/01081.png 1920w\" data-sizes=\"(max-width: 1100px) 100vw, 1100px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1100px; aspect-ratio: 1100\/704;\" \/><\/figure>\n\n\n\n<p>Courtesy of\u00a0<em>StatsEdge<\/em><\/p>\n\n\n\n<p>The entire market was down today, led by the tech sectors. The QQQ closed down 1.7%, threatening recent support. In markets like this, it becomes our job to ask a simple question to look for strength.<\/p>\n\n\n\n<p>What didn\u2019t \u201cthey\u201d sell?&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-2\">2\/<\/h2>\n\n\n\n<p><strong>Sector Overview<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1100\" height=\"615\" data-src=\"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/01\/01082-1-1100x615.png\" alt=\"\" class=\"wp-image-217115 lazyload\" data-srcset=\"https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/01\/01082-1-1100x615.png 1100w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/01\/01082-1-700x392.png 700w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/01\/01082-1-300x168.png 300w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/01\/01082-1-768x430.png 768w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/01\/01082-1-1536x859.png 1536w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/01\/01082-1.png 1920w\" data-sizes=\"(max-width: 1100px) 100vw, 1100px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1100px; aspect-ratio: 1100\/615;\" \/><\/figure>\n\n\n\n<p>Courtesy of\u00a0<em>StatsEdge<\/em><\/p>\n\n\n\n<p>The above chart is a heat map of sectors that I watch to try to see the market&#8217;s underlying health. Although the market was down significantly today, there were a fair amount of green sectors to keep an eye on here.&nbsp;<\/p>\n\n\n\n<p>It&#8217;s good to keep a list like this to notice themes like energy and metals being strong. From there, we can dive into the charts of a few of these sectors to see if anything stands out for a potential trade.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-3\">3\/<\/h2>\n\n\n\n<p><strong>Oil Close to a Breakout<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1100\" height=\"698\" data-src=\"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/01\/01083-1100x698.png\" alt=\"\" class=\"wp-image-217116 lazyload\" data-srcset=\"https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/01\/01083-1100x698.png 1100w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/01\/01083-700x444.png 700w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/01\/01083-300x190.png 300w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/01\/01083-768x488.png 768w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/01\/01083-1536x975.png 1536w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/01\/01083.png 1920w\" data-sizes=\"(max-width: 1100px) 100vw, 1100px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1100px; aspect-ratio: 1100\/698;\" \/><\/figure>\n\n\n\n<p>Courtesy of\u00a0<em>StatsEdge<\/em><\/p>\n\n\n\n<p>Oil has been in a range for two years now, and that range has been contracting.&nbsp;<\/p>\n\n\n\n<p>We are nearing the higher end of this wedge, with some good relative strength shown today.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-4\">4\/<\/h2>\n\n\n\n<p><strong>Airlines Flying<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1100\" height=\"699\" data-src=\"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/01\/01084-1100x699.png\" alt=\"\" class=\"wp-image-217117 lazyload\" data-srcset=\"https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/01\/01084-1100x699.png 1100w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/01\/01084-700x445.png 700w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/01\/01084-300x191.png 300w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/01\/01084-768x488.png 768w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/01\/01084-1536x976.png 1536w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/01\/01084.png 1920w\" data-sizes=\"(max-width: 1100px) 100vw, 1100px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1100px; aspect-ratio: 1100\/699;\" \/><\/figure>\n\n\n\n<p>Courtesy of\u00a0<em>StatsEdge<\/em><\/p>\n\n\n\n<p>The airline ETF was one of the leaders in 2024 and held well into today&#8217;s action.&nbsp;<\/p>\n\n\n\n<p>This puts us at the high end of a range we have been in from the beginning of November. A break of this could lead to some continued strength.&nbsp;<\/p>\n\n\n\n<p>&#8212;<br>Originally posted 8th January 2025<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By\u00a0Michael Nauss, CMT, CAIA, CDMS 1\/ Tech Sell-off 2\/ Sector Overview 3\/ Oil Close to a Breakout 4\/ Airlines Flying Investopedia is partnering with CMT Association on this newsletter. \u00a0The contents of this newsletter are for informational and educational purposes only, however, and do not constitute investing advice. The guest authors, which may sell research [&hellip;]<\/p>\n","protected":false},"author":186,"featured_media":217119,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":true,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[21,14,18,6,8,9,22,23,26,3],"tags":[1764,251,11607,7867,2172,2087,6273,778,3867,40,2782,3511,6405,3995,8563,794,12993,6970,5664,2223,219,1549,11885],"contributors-categories":[13686],"class_list":{"0":"post-217111","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-commodities","8":"category-etfs","9":"category-macro","10":"category-north-america","11":"category-region","12":"category-securities","13":"category-stocks","14":"category-technical-analysis","15":"category-text-articles","16":"category-traders-insight","17":"tag-brk-b-2","18":"tag-corn","19":"tag-crak","20":"tag-dbc","21":"tag-gdx","22":"tag-gld","23":"tag-ibb","24":"tag-nasdaq","25":"tag-oih","26":"tag-oil","27":"tag-qqq","28":"tag-slv","29":"tag-tan","30":"tag-uso","31":"tag-weat","32":"tag-xbi","33":"tag-xes","34":"tag-xhe","35":"tag-xhs","36":"tag-xle","37":"tag-xlv","38":"tag-xop","39":"tag-xph","40":"contributors-categories-investopedia"},"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Chart Advisor: Looking For Strength in Weakness<\/title>\n<meta name=\"description\" content=\"The entire market was down today, led by the tech sectors. 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