etfmsolutions: Momentum Stalls.....7.2.14

Wednesday, July 2, 2014

Momentum Stalls.....7.2.14

Momentum fizzled with evident choppiness and volume waned but VIX dropped into the red even further to retrace recent lows and XIV hit another new high.
It was a mixed bag for stocks and once again we saw marginal weakness into the close.

Thursday is a shortened session and we can expect volume to be very thin.
The long term trend is still up and SPY 200 is still probability more than a possibility.

Utilities got hit hard...a situation long overdue....and if XLU ever gets back down to lower support at 42 the risk/reward for new longs becomes substantial (not investment advice....just my opinion).

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