Thursday, September 20, 2012
T 3 Update.. 9.20.12
In early going today (90 minutes in) materials and energy are getting the fish eye so GLD and XLE are showing a pullback but the NYSE advance/decline line is rising, which typically indicates underlying buying rather than selling.
Whether this is a short term blip or something more substantial remains to be seen.
The TLT Long alert yesterday was reinforced by this morning's pop and the next confirmation of a possible trend change in bonds will be a movement of TLT from the #11 slot to something a bit more positive (remember XLE's recent excursion across the matrix).