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KIE, the ETF for insurance firms, flashed a technical oversold score by The PPT algorithm on Friday. Going out five to ten trading sessions, the ETF has impressive results for a long trade. Here are the statistics:
5 Day – Avg Return 4.44 5 Day – Times Up 4.00 5 Day – Times Down 1.00 5 Day – # Signals 5.00 5 Day – % Times Up 80.00 7 Day – Avg Return 5.35 7 Day – Times Up 4.00 7 Day – Times Down 1.00 7 Day – # Signals 5.00 7 Day – % Times Up 80.00 10 Day – Avg Return 4.35 10 Day – Times Up 4.00 10 Day – Times Down 1.00 10 Day – # Signals 5.00 10 Day – % Times Up 80.00
Moreover, looking at the zoomed out daily chart above, we can see that KIE is going to the mattresses (click on hyperlink to see that concept previously discussed) in a virtual straight line, approaching a major 2010 support zone.
The top components of KIE are: MET TRV PRU AFL AON.
Note that AFL has been crushed, but it did print a hammer on Friday. It should be on close watch for any upside confirmation for a change in trend this week.
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UVE came up a bit tonight, same sector. Thanks Chess.
Actually there’s a pretty comfortable mattress on the NASDAQ daily (4 layers !)
Daily : http://chart.ly/jet242m
Weekly : http://chart.ly/uwrxdmn
Monthly : http://chart.ly/nlqjqfx