We begin with , which is doing a yeoman’s job of sinking. It is approaching the lower half of its long-time descending channel, and I think energy is speaking truthfully to us about what’s ahead for the economy.
The , global equities, is sinking away from its long-term broken uptrend.
still have an absolutely solid chance of rallying, provided prices don’t’ sink back again into that green-tinted zone.
![GDXJ Chart GDXJ Chart](https://d1-invdn-com.investing.com/content/pic21a553adc63072a2244da02aa45d2196.jpg)
iShares China Large-Cap ETF (NYSE:) continues to weaken beneath its right triangle.
![FXI Chart FXI Chart](https://d1-invdn-com.investing.com/content/pica18e16782e4a7574306daf9b722953a2.jpg)
One of my three sine-wave trades, the small caps iShares ETF (NYSE:), had a nice down day today and is behaving itself perfectly properly.
![IWM Chart IWM Chart](https://d1-invdn-com.investing.com/content/picf9131c372d8fe1069a3db79c9e285696.jpg)
got kicked in the balls, thanks to both severe weakness (investment bank downgrade) as well as profit-taking on tech in general.
![QQQ Chart QQQ Chart](https://d1-invdn-com.investing.com/content/pic95e42b4e5946b13ef97d16bf7994f2ba.jpg)
The same holds true for , which is of course very dependent on a single stock, Nvidia (NASDAQ:).
![SMH Chart SMH Chart](https://d1-invdn-com.investing.com/content/pic9e6ba3b12fea4529ed181097f938f371.jpg)
Bonds, precisely as I hoped and predicted, as sinking away from that broken red uptrend.
![TLT Chart TLT Chart](https://d1-invdn-com.investing.com/content/pic93fc2aaf079ed62bf6af5e23eeecd09d.jpg)
My second “sine wave trade”, utilities, was annoyingly strong today, perhaps as a defensive play. I actually bought a few more puts as it strengthened, but it sure as hell better start to weaken again soon.
![XLU Chart XLU Chart](https://d1-invdn-com.investing.com/content/pic7d640c94bebc48db6eeab677c3b29e33.jpg)
My third and final sine wave trade, retail, went down today, which is a good thing. I’ve got March puts on all of these (IWM, , ) and am really needing these to work out before I get aggressive with my trading again.
![XRT Chart XRT Chart](https://d1-invdn-com.investing.com/content/pic14a876ebc2dda174b7f5477ece0744d9.jpg)
It was an exceptionally long day (trip to the airport, miserable red-eye light, lots of driving, lots of packing, all the while trying to do my job more-or-less) so I’m going to turn in.