M3 finally went to cash on XIV at the close, after a premature ALERT on the pre-close Friday. XIV, SPY, DIA and QQQ all closed in the red today but in the case of the indices the loss was so tiny as to warrant no statistical significance. We witnessed selective weakness in various stocks but no particular sector sag.
XLU did show strength although, once again, the momentum was not dramatic.
Note the TrendX charts of SPY and XIV in the right hand side panel...these little dashboards of momentum and relative strength have provided valuable signals of impending reversals in the past.
