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.
Is interest rates about to start going up?
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Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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