In our December 11th Keys To This Week report, we pointed out an emerging buying opportunity in the the SPDR S&P Aerospace & Defense ETF (XAR), and said:

“…a sustained rise above the 82.84 October 23rd high would indicate the uptrend is resuming and would target an additional 6% rise to 86.60 per share.”

Here is the chart from that report:

XAR: August 2017 through December 8th

The next chart, an updated version, shows that our $86.60 per share target was met this morning, January 12th, to capture a $4.56 per share, 6% advance in just a little more than 1 month.

XAR: August 2017 to January 12th

In addition, XHB outperformed the benchmark S&P 500 (SPX) by 1.0% during this holding period.

 

We publish these notifications for 3 reasons:

  1. to let Asbury Research subscribers know when to consider taking profits on existing positions,
  2. to let non-subscribers track what we are doing in the market, in real time, and
  3. to make everyone aware of a potential upcoming price reversal as price advances often end as upside targets are met and more savvy investors take profits.

 

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