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
EEM: still broken but trying to trend up
XLK: breaking towards bullish, looks much better than last week
XLU: bearish and broken