Overall market trends are still bullish. So, generally I am going to stay long.
Let us see how our major indices are doing:
SPY: Looking nicely bullish
IWM: About neutral with bias towards bullish. It has been flat last 2 weeks or so.
EEM: Very bullish. I am long Brazil – BRZU, Russia – RUSL and China – YINN. Brazil has been turbulent so I am watchng closely. But Russia and China are doing fine.
QQQ: Very bullish
XLF: Moderately bullish
XLE: Neutral. Has been going nowhere over the last 3 weeks. I would just hold for now.
XLV: Topsy-turvy and now in just about neutral territory
XBI: Getting into neutral territory. Has been bullish so the bias is towards bullish trend. But need to watch closely. I am long LABU.
SOX: Very bullish so I will stay the course with SOXL