As noted in my previous ideas about $SPY ( bearish
), $XLF, $XLI, $IWM, $XLE might be the catalyst that leads the markets higher. $XLF tapped the 8day EMA
twice before going back to positive which to me shows resilience with a market that has no sense of direction. A nice hammer doji
before breaking off into Memorial Weekend. XLF
might try and tap the upper band (38.50 - 39) before fading back to middle channel.