XLE (Oil) and EEM/SCHE hit their stride today, erasing the lag seen over the past 3 days.
Referring to the SPY Trendx in the right side panel it looks like we still have breathing room to the upside but the RSI3 is riding in the high 80's, historically a high probability retracement level. Some of today's action was probably due to short covering as evidenced by the luke warm volume and the across the board fade at the close.
M3, ever the optimist, still has XIV in the lead following today +6% drop in the VIX.
