Monday, June 13, 2011

Dull days don't last for long

With XLE now breaking down, XLF looks like it won't be far behind.

FAS is still giving better signals
This negative divergence looked like it would stick to a consolidation, but since it started leading, I'm taking a small profit in FAS for now and waiting this out, it won't have positive implications for the broader market with both energy and financials breaking down.

It still remains to be seen if this is a shakeout.

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