Fear and Greed and Hope?

It is very surprising how many people, including the pundits, can be so over consumed with their theories and predictions why the market should behave in a certain way. These are people who, even when they see the market behaving a certain way, will stick with their assessmnt of what should be happening.

Some of this is happening now. The market has been going up in a straight line since the election and many are calling for correction. I am not suggesting the correction will not happen – just that I have no idea. If it does come I will do the needfull. And if the markets keep going up I will do the needfull as well.

Anyway, enough talk, let’s see the trends:

SPY: bullish and looking strong

IWM: bullish

EEM: still broken but trying to trend up

XLF: bullish

XLK: breaking towards bullish, looks much better than last week

XLE: bullish

XLU: bearish and broken

XLI: bullish