Wednesday, September 14, 2011

Financials Turn Tomorrow?

I'm happy with the Call to take profits/partial profits in tech today, I think maybe we see financials tomorrow as the last post with the Q's vs the SPY seems to show (the Q's being Tech heavy and the SPY being financial heavy).
 The Euro lost momentum which means the dollar strengthened and that is taking some wind out of the sails of the market, so our exit in Tech was pretty well timed.

The SPY losing ground to a stronger dollar.

 The 15 min FXE hart looks strong enough to go another day and let financials rotate in.

As you can see, Tech is already rotating out and Financials are starting to rotate in.

Tomorrow we will likely end up taking profits in the SPY based ETFs as well as financials and get ready to position ourselves for the next leg.

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