Not bearish enough for long-term or intermediate longs to worry yet. But I am taking this short bet to hedge some of my longs in the portfolio. I am slowly scaling out of longs fully and starting to take tier 1-2 size short position in some sectors.
Risk-Reward is good if trade confirms. Stop is just around 1.30-1.50% away from entry. Target 1 around 50 day EMA...
The chart shows the Consumer Discretionary (XLY), Financials (XLF) and Industrial (XLI) sector ETFs as of Friday's close. These sectors have been the best performers since the March 2009 bottom and also led the charge upward from the November 2012 bottom. If we are to see new highs in the S&P 500, these sectors will have to lead the way. Consumer Discretionary is...
