Saturday, November 7, 2015

VDX Updates for SPY, XLU, FXI and XLF...11.07.15

This week's VDX updates show that SPY is still overbought, XLU has crashed to long term support levels (down 3.5% on Friday) as a result of heightened expectations that the FED's will raise rates in December (now 70% per the CBOE Fed fund tracker). FXI is or is not on a verge of a breakout, and I've included XLF (SPYDR Financials) to further support expectations for a rate hike.  Virtually all the large financials opened up 1% or more on Friday based on the bullish employment reports and the banks are savoring a rate hike that they can pass on to the public to help pump their bottom lines.