S&P 500 disappointed the bulls on a daily basis, and the overall performance esp. NDX, XLC, XLF, XLI and XLU casts short-term doubts over the island continuation theme – i.e. over the tight range sideways move that keeps above 4,555 key support. The key three stocks to watch for signs of leadership, are – the upswing (strength rebuilding within a rotation that is led higher by tech – by the way, see how things turned out after I took aim at the momentary Russell 2000 over Nasdaq outperformance?) or at least sideways to gently up move still above the key 4,555 support seeing more advance-decline line improvement.I also hope you didn’t miss the …(Click on image to enlarge)
Credit Markets(Click on image to enlarge)
Bonds dialed back their daily optimism, and confirm the very short-term caution regarding stocks. Alarm bells aren’t ringing, but the color that’s flashing is yellow. More By This Author:Back To NDX Safe HavenMore Soft Landing DataOverpowering Powell
NDX To Lead ES Again Or Not
