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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