•S&P 500 pulls back a quarter of a percent, QQQ gains, while IWM overreacts to the downside
Many funds ”oversold” and ripe for a bounce (XLF, XLV, XBI, XLI, IYT, XLP)
Funds in the early possible breakout stages: URA, FCG, XLE
•Checking in on the bond market.
Junk bonds pull back, but did they reverse?
TLT tracing-out a possible head and shoulders pattern. Did I mention it’s a possible pattern?
•Shorts are attempting to push the Dollar lower, but bigger resistance is higher at around 96
•Gold bounces higher, but in a feeble manner. Perhaps Dollar has further upside still
•Oil breaks to fresh 52-week highs. Marking first pullback levels
•XLE looks promising
•Natgas breaks a 20-week range to the upside
Watch this video on YouTube here: youtu.be/83Y8z8muMgM