Tuesday, August 13, 2013

X Sector Update...8.13.13

We got a little boost today all based on some random comments by one of the FED governors that the future growth of the economy was not certain.   Until that profound utterance the markets had been digging a red hole...but hope springs eternal for continued FED propping up and the markets reacted accordingly..although volume was very thin...as it has been over the past few days.

Now we're back into earning season and the usual market gurus are hyping tech and the financials... a 2 headed driver for typical bull markets that we have mentioned many times previously.  While the XLK is doing its part to make this scenario a reality the XLF financials are clearly lagging the pack and have some ground to make up to gain higher ranking.

Note the position of the P6, which has arrested its downslope with today's reversal and we are now looking for at least one more day of confirmation before signalling the all clear for vested positions.