Saturday, November 16, 2013

X Sector Update...11.16.13

The SPDR sector ETF model has moved XRT and XLY into the top slots as the holiday buying season gets under way and the prospects for the retail sector rise based on MACY's blow out earnings report and despite WalMart's lackluster report.

As long as consumer confidence continues to hold we're likely to see a continuation of these rankings for the weeks ahead and up to the new year.  Dow 16,000 is inevitable at this point...the markets love round numbers...but most of the seasoned market gurus predict the days of easy money are coming to a close and 2014 may be more of an uphill climb than 2013.

For now it looks like clear sailing...subject to the usual caveats.....although the technical signals are once again showing overbought conditions so we may see a little selling next week after we blow through the 16,000 mark.