Thursday, November 6, 2014

New Highs...11.6.14

Another new high day led by GE and pushed by XLE.  There was an early stumble 60 minutes in but buyers stepped in dominated the rest of the day...closing on the highs.  The NYAD wasn't really that bullish...closing at 1.28 and volume was middling so we're climbing further and further into overbought territory and technical resistance as each new green day develops.
XIV had a little bullish breakdown today and this may be a signal of the emerging paradigm for the rest of the year.