The Bull Ride Continues

Firstly, I sold off my long positions on TNA and FAS yesterdat just before close. I may have sold off early because it was clearly not based on any trend reversal. But I feel the Financials and the Small Caps havebeen on a straight-up trajectory and did not feel confident that that could continue. I will watch the market and may get into them again soon.

Here is how the trends look at this time:

SPY: nicely bullish, no sign of any jitters, I am long SPXL

IWM: very much bullish, but I took my position in TNA off as I thought that this sector has gone up too much too soon. I could be wrong and this could certainly keep going higher in which case I will get in again

EEM: completely broken and bearish

QQQ: this looks neutral at this time; I do gave a small options play on the long side on this with the expectation that the technology sector will catch up to the broader market soon

XLF: very bullish but I took off my long position in FAS thinking the financials have gone up too much too soon

XLE: bullish

XLI: bullish

XME: bullish – I am long call options

XBI: bullish – I am long call options

XLV: somewhat bullish

XLU: broken and looking bearish

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