Optimism is Growing
Now What? The Nasdaq and the S&P finally broke through the 50 SMA and the market has shown more signs of life the last three days than we’ve seen for a month. However, I want to maintain focus here and not get sucked into emotions. XLC, XLK and XLY have notably improved, with XLU and XLP meeting extension targets. I still like XLE, XLF and XLI to the downside, though I admittedly was early with my first set of entries. Here is what I am looking for, and what I’ll do based on Monday’s open.
