Macro Monday
Macor-Monday shows us more of the same. Tech IS the market. However, some defensive sectors like Bonds, Utilities, XLV are gaining or remaining strong in the background.
We noticed once again that the SPY Bull V Bear ratio near or at 3.0 tends to be a place of resistance. We have been tracking the Bull: Bear for four years now, 2.5 - 3.0 is the spot where the ratio peaks before retreating, conversely .5 seems to be the downside support.
We noticed once again that the SPY Bull V Bear ratio near or at 3.0 tends to be a place of resistance. We have been tracking the Bull: Bear for four years now, 2.5 - 3.0 is the spot where the ratio peaks before retreating, conversely .5 seems to be the downside support.
As far as the fundamental of the SPY Sectors, XLF showed strong growth, despite the strength in bonds. Energy remains simply ugly.
Mike's Macro-Monday Relative Strength comparison Reinforces our Macro-Monday takeaway. Bonds, Gold and Currencies show a positive trend.
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