Based on today's market action traders have ignored the Greek dilemma and bet on the FED to make them happy on Wednesday. That may be a fool's bet and today's volume was NOT very enthusiastic but the bulls always get excited when the FED speaks and tomorrow looks like no exception.
We shall see. Today's ergodics and ADX were in sync all day although the open was jumpy to say the least. We got a nice BUY entry on the weekly SPY 3 day low model this morning and are still in that position until further notice.
Below note a run of the XLF 10 year study using the 3 day low. Since these are weekly bars the lows are actually 5 day lows. The reason I profile XLF (financials) is that financials usually perform exceeding well as the yield curve rises....which is the current milieu. although other sectors may falter this summer XLF still exhibits strong momentum and relative sector strength. Tomorrow we'll post the actual 3 day low study on daily bars for XLF.