Financials/Tech and Event Risk

 XLF 1 min

 XLF 2 min

XLF 5 min

 Tech/XLK 1 min

 XLK 2 min

XLK 5 min

There's clearly no underlying support for the bounce in Financials and Tech..

 The SPY is close enough that it could put in a new closing high and is AAPL below, but at this point, I'm not sure if it even matters,

Between the close and tomorrow's open, we have the reaction to the Greek PSI and Non-Farm Payrolls, both before the market opens, there's huge event risk. Later I'll get in to some specifics on today's rally, but as Soc. Gen. commented, it "seems" stupid with the event risk.

Personally, to me it makes sense.

If things pre-market go wrong, it could make this move look small (by the way, there was a new closing high the day before).

In some ways Monday would make more sense, but in others, letting a move like that fester over the weekend could be equally as damaging.

Thus I closed any longs left.