Wednesday, January 9, 2013

9 Jan 2013

 I have no idea if this means anything, but the past three times XLF got near this level it was extremely lagging the Dow's performance (green) and almost marked short term tops in the Dow.  It looks like it could get a little higher to hit the upper most resistance.  Remember, I always say that when junk becomes leaders of an up move, the up move is getting tired.  AAPL, one of the actual leaders of the rally since 2009, has certainly fallen from grace as the dash for trash has commenced.
 Medium term is nearing all time highs.  This means 80% of stocks are in medium term uptrends.  Mean reversion anyone?
Short term has continued to fall.  It would be great to get a solid negative divergence when this tries to go up again.

"We can never be gods, after all. But we can become something less than human with frightening ease."
N.K. Jemisin

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