Despite the impressive 5 straight week rally, this is still a risk-off environment, so I'm considering it a counter-trend rally in the context of a bear market. Bias is neutral for now, since the recent trend is still up, but caution is recommended.
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This is interesting, Explains the recent chops in the Market and Energy stocks. If this so called bottom in oil any good, then we should see some improvement in this sector, along with this HUGE sector, the market will get better. Apart from this chart - DIA - Broke out. MDY - Broke out. The next is SPY ? we shall see. ------- as a note to fellow traders,...
Since the Pullback in Oct 2014 - The Defensive Sectors are rocking and rolling. This means, investors are running for safety. Risk is being taken off from the Cyclical Sectors. - The Sensitive sectors (the largest distribution in the pool) with 40% weight on SPY, 67% Weight on QQQ, 35% on IWM. This explains the new high with IWM, and QQQ not testing the high....
In the Oil Exploration and Production Sector, There are few stocks with a little bit of strength. One such ticker is TSO. The Question is, Is it going to hold the trend? or CRAP out of the trend and ROLL Over. Either way, All TSO needs is to see Crude Oil Gains a little strength, then we have a good probability of a breakout. The Second to this list would be...