The P6 4 month chart caught the turn and the cross of the P6 and the RSQ was a double confirmation that equity was going to suffer and cash was the safer choice. The momentum rankings were correct but after April 15 th it was more a case of which ETF was falling slower.
XLE still looks like the best of the bunch technically...the rest of the portfolio is strictly hands off...for now.
GLD is next in line for recovery but is still displaying a bottoming pattern and we have to be alert to the "trap door" setup mentioned in previous posts wherein a perceived rally turns into a plummet to new lows.
