quantguy
Long

Defense Contractors Flying High

INDEX:DXS   Spade Defense
With all the press about boots on the ground in Syria and other parts of the middle east, its not a surprise that defense contractors are doing well. Take for example DXS, the defense contractor index , which is showing solid, sustainable growth while breaking levels formed by gaps from the aftermath of Black Monday. Note gradually higher lows, while 'resting' a bit at levels.

The RSI and MACD indicate that this is a bit overbought, but the OBV suggests tremendous buying pressure. Thus is might be beneficial to wait for a slight retracement before entering a position. The Ichimoku cloud tells us there is plenty of room before we hit resistance on the downside, so be careful.
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