Forward is likely at an end. A few charts the first of several. The first, here is the xlp youll see they have a small head and shoulders top formed in this particular chart. If you look at the next chart, ive kept the head and shoulders top and also included the trend line in effect since the march low. We have two circumstances. We have a reversal formation, a head and shoulders top and we have a break of the trend thats been in effect since the march low. Third chart, another way to consider the facts, this is now a line across the top connecting the january and february peak prepandemic what we know is the xlp did break out, but now its fallen back below the level from which it broke out take a look at one more chart. This is the head and shoulders top in relation to the line drawn along the pandemic peak before the selloff anyway you slice it and dice it, we have distribution and it looks like theres more to go. Two more things. Take a look at this table. One thing we know about t
Brad and chris, who will engage in our next chat. Brad is the executive Vice President of booz allen hamilton. Chris is the director of the sartment of Homeland Security cybersecurity and infrastructure security agency. We are 55 days away from the u. S. Election, so it is my great pleasure and honor to introduce medairy for this fireside chat. Brad i appreciate the invite. It is a pleasure to be here with chris. That e are think thankful that you agreed to join us today to talk about some important topics. I think we should jump in. Chris ive got to admit my heart is racing a little bit right now. You said 55 days. I thought i had more time than that. Brad lets dive in, chris. Aside from the election, theres covid19. Certainly we saw the federal government move from a day in the office to telecommuting in a matter of days. Is your perspective around this new normal, not just in the federal government, but in some of the critical sectors you are seeing . Has been hugely transformationa
From the u. S. Election so it is my pleasure and honor to introduce to you brad for this important fireside chat. I appreciate the invite to be here today. It is a great pleasure to be here with chris. He mentioned how close we are to the election and we are thankful youve agreed to join us today and talk about some important topics. I think we should just dive right in. My heart is racing a little bit right now. I thought i had more time than that. Theres this other thing we have going on and certainly we saw the federal government moved from the office to telecommuting in a number of days and so what is your perspective around this new normal with the federal government and some of those that you are supporting . Just off the top its been hugely transformational. I think every aspect and how we engage. We will talk a good bit about the elections i imagine that just the way they are engaging and advising and working to provide cybersecurity supports two hour federal government part is
Intraday high. Its remarkable to look at that but its al important to think about where we could go from here my director of research took a look at the median time when you print a closing high until the nec time its actually on average about 90 days. Were 126 days out from that date that you mentioned. Every time the stay at home stocks look like they will roll over, somebody comes in and buys them look at zoom that looked like it was in trouble. Teledoc had this really nice comeback then you think about docusign, peleton. All of them when they looked shaky have came back those stocks have been fairly important. Take a look at Home Builders you cannot find a name in this index that doesnt look incredible on a technical basis right now. The industrials are trading sideways after digesting a huge move to the upside materials are hanging in there they are at record highs they are not going anywhere. I think when you consider the balance of all the Different Things that look good right n
Joe, you tell me first, whats going to be the determining factor this month for stocks i think were going to need to see some value. Were going to have to see energy and financials come around i know i am asking for a lot to see those sectors participate. To your comments at the top of the show about the month of august and the impact that it has, went back and studied the last ten years and in the last ten years, if you did go and purchase or enter the market at the low point in august, at the end of the year, in each instance, except 2018, you were rewarded for that. I would be concerned if we dont see a correction because thats the set up in 2018 we never got the august correction and we set ourselves up for a really bad fall id like to see a bit of a correction i would like to see financials and value and energy participate here i think thats going to be important but any type of correction, the history of the last decade tells you thats an opportunity to be a buyer thinking forwar