Monday, April 21, 2014

Lift Continues...4.21.14

After an iffy opening and a retest of the lows an hour in the markets picked up traction and ultimately closed modestly higher.
 XLE (see VEGA below) continues its juggernaut run and prices at the pumps reflect its unbridled exuberance.  The Qs also pickup up some momentum although the financials continue to not the 1,2 punch we like to see
Nevertheless, the short term signs are bullish...XIV is leading the M3 pack and at least on the surface we're going up. 
From a tactical standpoint there may be a pullback before the end of the month when we typically see a multiday pop and then we'll see how the Sell in May play sets up.