Apple reports tomorrow so we're seeing a little anticipation pop although price is still below $400. If AAPL misses in the same manner as IBM the results could be a 50 point drop. Not a play for the faint of heart.
GLD, XLE IWM and QQQ remain in a lagging mode although MSFT is a runner....the biggest gainer in the DOW and second biggest gainer in the Qs today.
The lower beta bonds IEF and AGG have moved to the center of the rankings and XLU continues to show positive momentum...for now, thereby suggesting a move to the safer issues.
All indicators are positive on the 2 year chart.
On the 6 month chart the equity line is riding the RSQ and the P6 is downslope...not an ideal time for the deployment of new capital, but rather a time to take some previous gains and await a more favorable technical scenario.
