Sector Spotlight: Monthly Charts Resting at Support
In this edition of StockCharts TV’s Sector Spotlight, for this first Tuesday for the month of May, I review the completed monthly charts for April. This process takes up almost the entire show, so you will get a thorough feel for what’s going on at the higher level time frame. The main takeaway is that many of these monthly charts are resting at important support levels. This means that we can either see a (small) bounce from current levels, a big reversal all of a sudden seems unlikely, OR when these levels break a lot more downside potential will be unlocked while at the same time limiting upside potential. But before I start, I’ll also give you a little peek into last week’s celebrations for Kings day in Amsterdam!
This video was originally broadcast on May 3, 2022. Click anywhere on the Sector Spotlight logo above to view on our dedicated Sector Spotlight page, or click this link to watch on YouTube. You can also check out the video on the StockCharts TV on-demand website StockChartsTV.com, or on the associated app on mobile platforms like iOS and Android, or TV platforms like Roku, Apple TV, Amazon Fire TV and Chromecast.
Sector Spotlight airs weekly on Tuesdays at 10:30-11:00am ET. Past episodes can be found here.